Service Equipment Leads with Oversubscribed IPO Ahead of Tadawul Listing
Deal News | Apr 22, 2025 | Zawya
Service Equipment Company, a Jeddah-based provider of automotive garage equipment, has achieved an impressive 147.02% oversubscription for its initial public offering (IPO) on the Saudi Stock Exchange's Parallel Market, Nomu. Having floated 720,000 ordinary shares, representing a 30% stake in the company, the final offer price was set at SAR 84 per share, aligning with the upper limit of the anticipated price range of SAR 80 to SAR 84. The IPO subscription phase spanned from April 13 to April 17, 2025. Approval for the launch of this share offering was secured in December. Yaqeen Capital, tasked as the financial advisor, is slated to determine the listing date after all requisite procedures are concluded.
Sectors
- Automotive Equipment
- Financial Services
Geography
- Saudi Arabia – Service Equipment is based in Jeddah and is listing on the Saudi Stock Exchange, Tadawul.
Industry
- Automotive Equipment – Service Equipment specializes in garage equipment for the automotive industry, making it relevant to this sector.
- Financial Services – The IPO process and involvement of Yaqeen Capital as a financial advisor connects the article to the financial services industry.
Financials
- SAR 84 per share – The final offer price per share for Service Equipment's IPO.
- 720,000 shares – The total number of shares floated in the IPO, representing a 30% stake.
- 147.02% – The oversubscription percentage for the Service Equipment IPO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Service Equipment | Target Company | Company | A Jeddah-based company specializing in garage equipment for automotive businesses. |
| Yaqeen Capital | Financial Advisor | Company | Provided financial advisory services for Service Equipment's IPO. |