Future Vision for Health Training sold 2 million shares to the public in an initial public offering last week that valued the Saudi healthcare education company at SAR 70 million ($19 million), according to AGBI calculations.
The sale of 20 percent of the company at SAR 7 per share was more than six times oversubscribed, according to Yaqeen Capital, the financial advisor and lead manager of the IPO.
Following the April 6 to 10 sale process, the shares will list on the Saudi Exchange’s junior market, or Nomu.
Last week the market regulator, the Capital Markets Authority, started consultations on introducing special purpose acquisition companies to Nomu to encourage IPOs and listings.
Saudi IPOs have attracted investor interest this year. Three have come to market so far: Derayah Financial, Entaj and Umm al Qura, raising more than $1 billion between them.
Each company’s shares rose the maximum 30 percent allowed on the first day of trading but have since retreated in the wake of the global plunge in share prices following US President Donald Trump’s April 2 US tariff announcement.
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