‎Qualified investors start subscription to 350,000 shares of Knowledge Tower today

‎Qualified investors start subscription to 350,000 shares of Knowledge Tower today

Qualified investors start today, Oct. 30, subscription to 350,000 shares or 20% of total shares of Knowledge Tower Trading Co. on Nomu-Parallel Market, with an initial public offering (IPO) of SAR 40 per share.

The subscription period will run across five days until Nov. 3.

Knowledge Tower is the 13th IPO on Nomu since the beginning of the year, following the listing of Gas Arabian Services Co. on Jan. 23, Raoom Trading Co. on Jan. 30, Al-Jouf Mineral Water Bottling Co. on Feb. 6, Arabian International Healthcare Holding Co. (Tibbiyah) on Feb. 15, Arabian Food & Dairy Factories Co. (FADECO) on May 11, Ladun Investment Co. and Amwaj International Co. on May 22, Saudi Networkers Services Co. on July 24, International Human Resources Co. (IHR) on July 31, Naba Alsaha Medical Services Co. on Aug. 8, Arabian Plastic Industrial Co.’s (APICO) on Sept. 11 and AlBabtain Food on Sept. 25.

On Sept. 12, the Capital Market Authority (CMA) approved the company’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, as well as clients of capital market institutions authorized to carry out management operations, provided that they