PHOTO
Saudi Arabia’s Alkhaldi Logistics Company has cancelled its initial public offering (IPO) on the kingdom’s parallel market, Nomu.
Yaqeen Capital, serving as the financial advisor and lead manager for the offering, said on Tuesday that the planned share offering was “incomplete” and considered “void”. It did not specify the reason for cancellation.
With the IPO cancelled, subscribers are expected to receive refunds by Wednesday, June 4, 2025.
The company had previously planned to sell 1.05 million shares on Nomu, representing 7% of post-IPO capital. The offer price was set between SAR 44 and SAR 47 per share.
(Writing by Cleofe Maceda; editing by Seban Scaria)
