RIYADH: Group Five Pipe Saudi Co., a leading spiral pipe provider in the Middle East, will begin trading on the parallel stock market, Nomu, as of Monday, Nov. 29, according to a filing to the Saudi Stock Market.
The Dammam-based company closed its initial public offering of 2.8 million shares, representing 10 percent of the total number, with the final offer price set at SR35 ($9.33) per share. The IPO was 1,208 percent oversubscribed, according to Aldukheil Financial Group, the IPO financial advisor.
