Dammam-based Gas Arabian Services set its final offer price at SR90 ($24) per share as it aims to list on the parallel market Nomu, according to a bourse filing.

The book-building for qualified investors was finalized with a coverage of 47.58 times the total shares offered during the period, which ended on Jan. 27.

FALCOM Financial Services, in its capacity as the book-runner of the offer, will finalize the required procedures with the Saudi Exchange to determine the final listing date.

Scientific and Medical Equipment House, or SMEH, which seeks to list on the main index TASI, has also announced its final offer price at SR52 – the top end of the proposed range.

The participating entities' book-building was led by Alistithmar Capital, which announced that the offering was covered approximately 65 times.

As for individual investors’ subscription, it will start on Jan. 31 and run through Feb. 3, with a maximum of 600,000 shares eligible for subscription, representing 10 percent of the total offer.

The decision to list came as the company aims to strengthen its position in the Kingdom’s operations, maintenance, and healthcare sector, SMEH’s chairman, Basel bin Saud Al Arifi, said in a statement earlier this month.

Further to the wave of IPOs in the Kingdom, the Saudi stock market regulator, or CMA, has approved the listing of Saudi Part Center Co.'s shares on Nomu.

Established in 1988, Riyadh’s Saudi Part Center is a subsidiary of AlKhorayef Group, operating under the machinery systems division.