Bena Steel debuts on Nomu today as seventh listing of 2023

Logo of Bena Steel Industries Co.

Bena Steel Industries Co. will begin trading on Nomu-Parallel Market today, March 22, with the symbol 9563 and ISIN Code: SA15PGQ4LDH7, at SAR 52/share.

Shares will trade with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.

The Capital Market Authority (CMA) approved, on Nov. 2, 2022, the application received from the company to float its shares on Nomu.

Bena Steel offered 600,000 shares to qualified investors, representing 12% of its share capital, at SAR 52 per share. The initial public offering (IPO) was 150% covered.

This is the seventh listing on Nomu in 2023, bringing the total to two direct listings and five offerings to qualified investors.

Nomu witnessed IPOs of 32 companies last year, divided into 13 direct listings and 18 offerings to qualified investors, in addition to one REIT.

Bena Steel’s listing will bring the total number of companies on Nomu to 52, in addition to Alwaha REIT Fund.

Company Info:

Headquartered in Dammam, Bena Steel was incorporated as a closed joint-stock company. It started operations as a branch in 1992.

The company's activities, as stated in its commercial register, are represented in the manufacturing of steel sheets, plates, strip coils, bars, angles, wires and sections of all kinds. This is in addition to the manufacturing of steel cables, metal strips pipes and hollow sections of iron and steel, besides the production and installation of prefabricated steel constructions for refinery and refining units.

The company's current actual activity is represented in iron rolling services, structural steel fabrication, steel tubes, presses and trolleys.