Wasm Business for Information Technology has completed a triumphant initial public offering (IPO) with the professional guidance of Kasb Financial Group as the financial advisor and lead manager. The offering successfully sold 390,000 ordinary shares, which amounts to a 20% stake in the company, to investors.
The shares were introduced on the parallel market “Nomu,” with the final offering price determined at SAR 49 per share. The subscription period, which spanned from January 25, 2024, to February 1, 2024, witnessed an oversubscription rate of 404.77% of the total shares offered.
An official statement by the company on the Saudi Tadawul stated that Kasb Financial Group will progress with finalizing the necessary procedures with the Saudi Stock Exchange group, subsequently scheduling the listing of Wasm Business for Information Technology shares on the Nomu market.
