Group Five Pipe debuts on Nomu today

Logo of Group Five Pipe Saudi Ltd.

Shares of Group Five Pipe Saudi Ltd. will begin trading on Nomu - Parallel Market today, Nov. 29 under the symbol 9523 and ISIN Code SA15DGHKKPH8.

The stock will have a ± 30% daily price fluctuation limit and ± 10% static price fluctuation limit.

On Sept. 29, the Capital Market Authority (CMA) approved the company's request to list a 10% stake, or 2.8 million shares.

The company's IPO was successfully closed on Nov. 18 with the final offer price set at SAR 35 per share. The IPO was 1,207.77% oversubscribed by qualified investors.

Group Five Pipe is the 11th listing on Nomu this year (eight direct listings), bringing the total number of listed companies to 14, after nine companies moved to the main market. It is the third company to offer shares on Nomu after the IPOs of Shatirah House Restaurant Co. (Burgerizzr) in August and Al Hasoob in November.

Company Info:

Group Five Pipe Saudi Ltd. was established as a mixed limited liability company in 2000, with a capital of SAR 30 million in Dammam, which was later increased to SAR 90 million.  In 2020, the company increased its capital to SAR 280 million.

In 2021, the company was converted into a closed joint stock company, with a capital of SAR 280 million, divided into 28 million ordinary shares, fully paid in value.

Group Five Pipe Saudi operates in the production, sale and marketing of spiral-welded steel pipes. Its factory is considered among the advanced ones in the production of steel pipes in the Kingdom and the GCC countries, with an annual production capacity of 550,000 metric tons.

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