TAM Development debuts on Nomu today

Logo of TAM Development Co.

TAM Development Co. will begin trading on Nomu-Parallel Market today, June 14, with the symbol 9570 and ISIN Code: SA15R214LH17, at SAR 130/share.

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

The Capital Market Authority (CMA) approved, on Dec. 19, 2022, the application received from the company to register its shares for direct listing on Nomu-Parallel Market.

The company offered 585,600 shares to qualified investors, representing 16% of its share capital, at SAR 130 per share. The initial public offering (IPO) was 140.7% covered.

This is the 15th listing on Nomu in 2023. The listings comprised three direct listings and 12 offerings to qualified investors.

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

TAM Development listing will bring the total number of companies on Nomu to 60, in addition to Alwaha REIT Fund.

Company Info:

TAM Development Co. is a Saudi closed joint-stock company, established as a limited liability company in 2012 and headquartered in Riyadh.

The company, as per its commercial register, specializes in public relations and communication, senior management consulting, ad institutions and agencies, market research and opinion polls, as well as business incubators and accelerators.