‎Qualified investors start subscription to 420,000 Foods Gate shares today

‎Qualified investors start subscription to 420,000 Foods Gate shares today

Qualified investors start today, March 12, subscription to 420,000 shares, or 20% of the share capital of Foods Gate Co. (FG), on Nomu-Parallel Market, between SAR 50 and SAR 56 per share.

The subscription period will run five days until March 16.

The IPOs of Foods Gate and Ghida Al-Sultan Co., simultaneously today, are the fifth and sixth IPO witnessed on Nomu during 2023. They followed WAJA Co. on Feb. 12, KnowledgeNet Co. and Bena Steel Industries Co. on Feb. 26, as well as Horizon Food Co. on March 5.

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., International Human Resources Co. (IHR), Naba Alsaha Medical Services Co., Arabian Plastic Industrial Co. (APICO), AlBabtain Food, Knowledge Tower as well as Molan Steel Co., Saudi Top Trading Co., Leen Alkheir Trading Co., Nofoth Food Products and Alwaha REIT Fund.

On Nov. 14, 2022, the Capital Market Authority (CMA) approved Foods Gate’s application to offer and list its shares on Nomu.

The subscription is limited to certain categories of investors, including capital