Nayifat Finance Company (NFC), one of the leading non-bank financial institutions (NBFI) within the consumer financing space in Saudi Arabia on Wednesday announced the final offer of SAR 34 per share price for its Initial Public Offering on the Saudi Exchange main market. This would result in a market capitalization of SAR 3,400 million (USD 907 million) on admission.
The book-building process generated an order book of SAR 162 billion that was 136x oversubscribed.
“This latest milestone in our growth journey serves as testament to our unique value proposition in the Kingdom, as we continue to deliver unparalleled financial and operational results,”
Abdulmohsen Al Sowailem, Managing Director and Chief Executive Officer of NFC said. “I am delighted to witness the strong demand and positive outcome for NFC’s shares by institutional investors, and look forward to the exciting opportunities ahead, as we continue to embark on our next chapter of growth by welcoming a wider and more diverse institutional and retail shareholder base.”
Retail subscriptions will begin on November 7 and end on November 8.