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Bookbuilding for Quara Finance’s Nomu IPO wrapped up earlier this month with the consumer finance firm setting a share price of SAR 15, its financial advisor Riyad Capital said in a disclosure to Tadawul yesterday.
Demand for the IPO was strong, with orders covering 218% of the offering during the bookbuilding process, which ran from 4-8 February. The BNPL firm received in December the Capital Market Authority’s approval to offer an 8.8% stake in the IPO.
About the issuer: Founded in 2009, Quara is a consumer finance firm that provides financial leasing and alternative financing to SMEs, according to its website.
ADVISORS– Riyad Capital is sole financial advisor and receiving agent alongside Alkhair Capital, and PwC the legal accountant.
