Almuneef debuts on Nomu today

Logo of AlMuneef Company for Trade, Industry, Agriculture and Contracting

Almuneef Company for Trade, Industry, Agriculture and Contracting starts trading on Nomu-Parallel Market today, June 7, with the symbol 9569, ISIN Code SA15QH34LGH2, and a per share price of SAR 70. 

The stock will trade with daily and static price fluctuation limits of +/-30% and +/-10%, respectively.

The Capital Market Authority (CMA) approved, on Dec. 29, 2022, the application received from the company to float its shares on Nomu. 

Almuneef floated 760,000 shares, representing 20% of its SAR 38 million capital, which is divided into 3.8 million shares. The offering was 143.40% oversubscribed. 

This is the 14th listing on Nomu in 2023, bringing the total to three direct listings and 11 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 Alwaha REIT Fund.

Company Info: 

AlMuneef Co. was established as a closed joint stock company in May 2009 in Riyadh. It supplies some agricultural products, along with wholesale or retail sale of seeds, fertilizers, pesticides and others. 

Currently, the company purchases and supplies some products related to the agricultural sector -- such as seeds, fertilizers, pesticides, and, agricultural supplies. It is also active in re-packaging products in multi-size packages, as well as marketing and selling them (wholesale or retail) through the company's sales outlets, in addition to its website. 

The company provides land transportation services for petroleum products, agricultural fertilizers, and equipment through its owned specialized transport fleet.