Two new firms to join Saudi Exchange’s parallel market on Tuesday

The Kingdom’s stock market is to see two new company listings on Tuesday, Jan. 18, the Saudi exchange, Tadawul, announced in a filing.

Alwasail Industrial Co. and AME Co. for Medical Supplies will debut their shares on Nomu, Saudi bourse’s parallel market.

Alwasail Industrial’s final offer price was set at the top of the indicative range, at SR19 ($5.06) per share.

This came in line with the completion of qualified investors’ book-building by FALCOM Financial Services Co., where the offering was 16.2 times covered.

Based in Buraydah, Alwasail manufactures plastic pipes to support irrigation systems, water, gas, communications, and sewage projects.

AME Co. for Medical Supplies’ IPO prospectus was issued in late December last year, financial advisor Aldukheil Financial Group said in a bourse statement. The price guidance per share was set at SR50.

Headquartered in Jeddah, the company belongs to the Kingdom’s healthcare sector.

Arab Contribution Time: 17-Jan-2022 13:09 (GMT)
Arab Last Update Time: 17-Jan-2022 13:09 (GMT)