‎Qualified investors start subscription to AlMuneef’s 760,000 shares today

‎Qualified investors start subscription to AlMuneef’s 760,000 shares today

AlMuneef Co. For Trade, Industry, Agriculture and Contracting starts today, May 14, the subscription by qualified investors to 760,000 shares, in an initial public offering (IPO) on the Nomu-Parallel Market.

This represents 20% of AlMuneef’s SAR 38 million capital, or 3.8 million shares. The price range was set between SAR - and SAR - per share.

The subscription period will run for five days until May 18.

AlMuneef IPO is the ninth offering on Nomu in 2023, following 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. and Meyar Co. (March 19).

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