‎Qualified investors start subscription to 1.75 UMI shares today

‎Qualified investors start subscription to 1.75 UMI shares today

Qualified investors start today, Sept. 26, subscription to 1.75 million shares, or 12.5% of United Mining Industries Co.’s (UMI) 14 million share capital (SAR 140 million), on Nomu-Parallel Market. The initial public offering (IPO) was priced between SAR 31 and SAR 34 per share.

The subscription period will run five days until Oct. 2.

With UMI IPO today, offerings on Nomu would reach 18 in 2023.

Nomu saw 19 IPOs last year, including Gas Arabian Services Co., Raoom Trading Co., Al-Jouf Mineral Water Bottling Co., Arabian International Healthcare Holding Co. (Tibbiyah), Arabian Food & Dairy Factories Co. (FADECO), Ladun Investment Co., Amwaj International Co., Saudi Networkers Services Co. (SNS), International Human Resources Co. (IHR), Naba Alsaha Medical Services Co., Arabian Plastic Industrial Co. (APICO), Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food), Knowledge Tower Trading Co., Molan Steel Co., Saudi Top Trading Co., Leen Alkhair Trading Co., Nofoth Food Products Co. and Alwaha REIT Fund.

In June, the Capital Market Authority (CMA) approved UMI’s application to offer shares on Nomu.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account. It also includes clients of capital market institutions authorized to carry out management operations, provided