Alramz Real Estate scraps plan to list on Nomu

Logo of Alramz Real Estate Co.

Alramz Real Estate Co. announced the cancellation of its initial public offering (IPO) on Nomu-Parallel Market upon consultation with its financial advisor ANB Capital, the company said in a statement to Tadawul.

 

The company is confident of its strategy and future prospects, the statement said, adding it decided that the move would be in the best interests of its shareholders and investors to return to the market at a later stage.

 

Alramz Real Estate was scheduled to begin tomorrow, Dec. 13, the subscription for qualified investors to 3.3 million shares.

 

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