Time Entertainment’s Nomu IPO 141% covered

Logo of Time Entertainment Co.

Alkabeer Capital, the financial advisor for the initial public offering (IPO) of Time Entertainment Co., announced the completion of the offering of 200,000 shares on the Nomu-Parallel Market.

In a statement on Tadawul today, June 3, the brokerage said the offering was 141.41% oversubscribed, adding that the final offer price was set at SAR 80 per share, which is the maximum limit of the price range.

For More IPOs

Alkhabeer Capital will finalize the required procedures with Tadawul, before determining Time Entertainment’s debut date.

According to Argaam’s data, the offered shares represent 20% of the company’s SAR 10 million-share capital, divided into one million shares, at a par value of SAR 10 per share. The share price range was set between SAR 76-80.

Time Entertainment was established in 2012 as a limited liability company under the name "Time Talent Management Company". It was later transformed into a joint-stock company in 2023. The company's primary activity is organizing entertainment events, including professional event consulting, live creative experiences, shows, and celebrations.