‎Qualified investors start subscription to Al Razi Medical 304,000 shares today

‎Qualified investors start subscription to Al Razi Medical 304,000 shares today

Al Razi Medical Co. starts today, June 4, the subscription by qualified investors to 304,000 shares, in an initial public offering (IPO) on the Nomu-Parallel Market.

This represents 20% of Al Razi Medical’s SAR 15.2 million capital, or 1.52 million shares. The price range was set between SAR 24 and SAR 28 per share.

The subscription period will run for three days until June 6.

With the IPOs of Al Razi Medical and Saudi Call Co., which is also taking place today, offerings on Nomu reach 12 in 2023. Others this year include WAJA Co. on Feb. 12, Bena Steel Industries Co. and KnowledgeNet Co. (Feb. 26), Horizon Food Co. (March 5), Ghida Al-Sultan, and Foods Gate Co. (March 12), as well as Saudi Lime Industries Co., Meyar Co. (March 19), AlMuneef Co. (May 14) and Tam Development Co. (May 21).

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