Falcom Financial Services Company, in its capacity as the financial advisor and lead manager for the potential offering of Taqaddam International Telecommunication and Information Technology Company ICTK, has successfully completed the book-building process for qualified investors in the company's shares in the parallel market, growth, and set the final offering price at 110 Saudi riyals per share.


According to Arabiya Net, Falcom Financial Company said in a statement that the coverage ratio amounted to 19.8 times of the total shares offered during the offering period from Sunday, December 12, 2021, until Thursday, December 16, 2021.


Falcom added that, in her capacity as the financial advisor and IPO manager, she will complete the necessary procedures with the Saudi Tadawul Group, and then set the date for listing the shares of Taqaddam International for Communications and Information Technology in the parallel market.


It is noteworthy that the price range for offering ICTEC shares has been set between 95 to 110 Saudi riyals per share.


The offering process is represented by offering 400,000 ordinary shares of the company's current shares, the offering shares, representing 20% ​​of the company's issued capital, which will be sold by the existing shareholders.


A number of 400,000 ordinary shares representing 100% of qualified investors will be allocated.