RIYADH: Advance International Communication and Information Technology’s initial public offering price was set at SR110 ($29.31) per share, according to a bourse filing. The shares of the company are to be listed on the parallel market Nomu. FALCOM Financial Services, a financial advisor, is finalizing the book-building process. The offering was 19.8 times oversubscribed, having offered a sum of 400,000 shares solely to qualified investors, representing 20 percent of the company’s capital. The listing date has not been disclosed yet.