Wabra Water Work appoints Afaq Capital as financial advisor on Nomu direct listing

Logos of Wabra Water Work and Afaq Capital

Wabra Water Work announced appointing Afaq Capital as a financial advisor on its direct listing on Nomu-Parallel Market. 

The company indicated that the potential listing is subject to the approval of the regulatory authorities, including the Capital Market Authority (CMA) and Saudi Exchange (Tadawul).

Established in 1997, Wabra is a company that specializes in water purification and treatment through operating desalination and sewage plants. 

CEO Nawaf Al-Jasser said signing an agreement with Afaq Capital will help the company achieve further growth and expansion. He added that the move came as a result of planning and hard work, which is expected to serve the company's main goal of expanding its current business and increasing the number of branches. 

Wabra focuses on boosting its presence across the Kingdom, as well as developing the chemical sector and manufacturing chemicals locally to achieve Vision 2030 goal towards a prosperous economy and ambitious nation.

Meanwhile, Saleh Al-Muhanna, CEO and Managing Director of Afaq Capital, said Warba's main business in water purification and treatment will be one of the key activities on Nomu, which will allow investors to diversify their investments in vital sectors.

Afaq Capital, a financial and investment services company based in Riyadh, is licensed by the CMA. It specializes in providing arranging services in public and private offerings as well as debt instruments, in addition to providing crowdfunding services.