Saudi asset manager Osool & Bakheet launches IPO

Osool & Bakheet Investment Company (OBIC), a Saudi Arabia-based asset manager, is set to go ahead with its initial public offering (IPO).

The firm will list on Nomu, the alternative market of the Saudi Stock Exchange.

On offer to investors will be 1.6 million ordinary shares which amounts to a 25% stake in the investment manager.

The IPO comes ten years after the merger between Osool Capital and Bakheet Investment Group that created the current firm.

The share offering will take place between October 15 to 19 with the pricing ton be announced beforehand.

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