Alwasail Industrial starts trading on Nomu today

Logo of Alwasail Industrial Co.

Alwasail Industrial Co. starts trading on Nomu - Parallel Market today, Jan. 18, under the symbol 9525 and ISIN Code SA15GG9KKQH9, according to the Saudi Exchange (Tadawul).

Daily fluctuation limit is ±30% and static price fluctuation limit is ±10%.

On Nov. 3, 2021, the Capital Market Authority (CMA) approved the request submitted by Alwasail Industrial Co. to float 2.5 million shares, representing 10% of its capital, for listing on Nomu.

Book-building process was successfully completed with the final offering price set at SAR 19 per share and a coverage ratio of 16.2X.

The listing of Alwasail Industrial brings the number of Nomu-listed companies to 18.

Company Profile:

The company began its operation as a sole proprietorship in 1980 as Alwasail Agricultural Co. in Buraidah. In 2006 the company was transformed into a closed joint stock company, while capital was increased to SAT 250 million in 2013.

Alwasail Industrial's core activity includes the production of plastic pipes (polyethylene) of different sizes and lengths used for irrigation systems, drinking water, wastewater, sanitation, gas, electricity conduits and telecom ducts. It further complements its pipe production with pipe fittings and irrigation accessories, in addition to, rubber rings and joint seals.

Alwasail Industrial has two basic pipe and fitting production plants, integrated warehouses and a fleet of distribution trucks, with more than 100 pipeline lines of various sizes.

The company produces medium- and high-density polyethylene pipes, most of the parts and network supplies of all kinds, to meet the needs of irrigation, water, gas, telecommunications and drainage projects.

Alwasail Industrial’s products cover the network needs of pipes and supplies, including drinking and irrigation water (agriculture-cosmetic), drainage lines of all kinds, water desalination lines, oil and gas lines and communications, firefighting network supply lines, and power supply lines protection pipes.

The company has 19 branches and only one is located outside the Kingdom. It has more than 645 employees.

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