RIYADH: Riyadh-based Saudi Networkers Services Co. has set the price of its initial public offering at SR71 ($19) per share as it plans to list its shares on the Kingdom"s stock exchange, according to a bourse filing. The technical consulting services provider is looking to float 25 percent of its capital, amounting to 1.5 million shares, on Saudi Arabia’s parallel market Nomu. Aldukheil Financial Group is acting as the financial advisor of the offering, which will be confined to qualified investors and will open for subscription starting July 24 until July 28. Ahead of its IPO, Saudi Networkers posted a 28-percent drop in profit from SR39.1 million to SR28.3 million for the year 2021 due to a rise in the cost of revenue.