Munawla Cargo to debut on Nomu today

Logo of Munawla Cargo Co.

The Saudi Exchange (Tadawul) announced that Munawla Cargo Co. shares will be listed and begin trading on Nomu-Parallel Market as of today, Sept. 11, with the symbol 9571, ISIN Code SA15S1N4LHH7 and at SAR 110 per share.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.

From Aug. 27-31, qualified investors subscribed to 200,000 shares, or 20% of Munawala Cargo capital. The initial public offering (IPO) was 2,113.39% covered.

With Munawla’s IPO, offerings on Nomu would reach 21 in 2023, including four direct offerings and 17 offerings for qualified investors.

Nomu saw 32 IPOs last year, including 13 direct listings and 18 offerings for qualified investors in addition to one REIT.

With Munawla’s listing, Nomu listed companies would reach 65 in addition to Alwaha REIT Fund.

Company Profile

Established as a limited liability company in 1997, Munawla Cargo currently operates as a closed joint stock firm. Based in Dammam, the company specializes in freight services of all kinds.

Munawla Cargo's actual activity involves sea and land transport and shipping services, in addition to its air freight and logistical business.

For More IPOs