Natural Gas Distribution sets IPO price at SAR 13 for direct listing on Nomu

Logo of Natural Gas Distribution Co.

Natural Gas Distribution Co. (NGDC) announced the shares listing guide for the purpose of direct listing on the Nomu Parallel Market.

The company set the price guidance for the initial public offering (IPO) in the parallel market at SAR 13. 

According to data compiled by Argaam, the Capital Market Authority (CMA) approved in March the first direct listing of NGDC on the Nomu Parallel Market.

NGDC, a limited liability company, was established in 2000 with a capital of SAR 15 million. The company’s current capital is SAR 50 million.

As stated in its commercial registry, the company's activities focus on the distribution of gaseous fuels through pipelines, gas pipeline expansion, maintenance, and repair, wholesale of gaseous fuels, and the transportation of natural gas through pipelines.

As stated in the Articles of Association, the company’s activities include practicing and carrying out the following:

- Purchasing dry gas from Saudi Arabian Oil Co. (Saudi Aramco), and establishing and utilizing networks to distribute it to all current and future plants in the industrial cities across Saudi Arabia, according to the prices set by the state.

- Operating and maintaining networks to serve customers for a fee agreed upon with the Ministry of Energy.

- Practicing and investing in various energy fields, related to all phases of the energy sector.

- Investing in stocks and securities.

- Owning real estate and movable assets necessary to conduct its activity.

- Possessing and exploiting industrial ownership such as patents, trademarks, concession rights and other intangible rights, and leasing them to subsidiaries or others.

The company's current activity is to purchase dry gas from Saudi Aramco and establish, operate, and maintain a distribution network for all current and future plants in the Second Industrial City of the Saudi Authority for Industrial Cities and Technology Zones (MODON)