SNS reports subscription coverage rate at 223%.. 10 shares/subscriber allocated

Al-Dakhil Financial Group, in its capacity as the financial advisor for the initial public offering of Saudi NetWorkers Services Company (SNS) in the parallel market “Nomu”, announced the completion of the offering process for 1.5 million ordinary shares, representing 25% of the company’s total shares, whereby qualified investors subscribed for all the offered shares.

The offering period started on Sunday, 07/24/2022 CE, and ended on Thursday, 07/28/2022 CE.

Qualified investor coverage details:

Offering price: 71 riyals per share.

Number of shares offered: (1,500,000) shares representing 25% of the company’s total shares.

Coverage: 223%.

A minimum of (10) shares were allocated to each subscriber, and the remaining shares were allocated on a pro-rata basis based on the ratio of what each subscriber requested to the total shares required to be subscribed.

The surplus of the subscription amounts will be returned no later than Thursday, 04/08/2022 AD, and Al-Dakhil Financial Group will complete the necessary procedures with the Saudi Tadawul Company, and then set the date for listing the company’s shares in the parallel market “Nomu”.