Advance International debuts on Nomu today

Logo of Advance International Communication and Information Technology

Advance International Communication and Information Technology (AICTEC) begins trading on Nomu – Parallel Market today, Jan. 6, with the symbol 9524 and ISIN Code SA15E1N4KQ13.

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

In November, the Capital Market Authority (CMA) approved the company’s request to offer 20% of its capital on Nomu. 

The book-building process for qualified investors in the company's shares were successfully carried out and the final offer price was set at SAR 110/share, with a coverage ratio of 19.8x of total offered shares. 

This will be the second listing on Nomu Parallel Market in 2022, thus bringing the number of traded companies to 16. Last year saw eight direct listings and the listing of three companies following the subscription by qualified investors.

Company Info:

Advance International Company for Communication and Information Technology was established as a limited liability company in Riyadh on April 19, 2016, with a capital of SAR 100,000, divided into 100 in-kind stakes of equal value.

In November 2020, the company's partners decided to increase the capital to SAR 20 million, divided into two million shares at a value of SAR 10 each, following which the company converted into a closed joint stock company. 

The company's activities are represented in network extensions, installation and extension of computer and communications networks, wholesale and retail sale of security devices.