UMI debuts on Nomu today

Logo of United Mining Industries Co.

United Mining Industries Co. (UMI) shares will be listed and begin trading on Nomu-Parallel Market as of today, Oct. 22, under the symbol 9583 and ISIN code SA15T0H4LNH2, at SAR 34 per share.

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

The company offered 1.75 million shares to qualified investors, representing 12.5% of the company’s capital, on Nomu at SAR 34 per share. The IPO was 343.55% covered, according to data available with Argaam.

UMI IPO will take the number of listings on Nomu to 25 in 2023, including five direct offerings and 20 offerings for qualified investors.

Nomu saw 32 IPOs last year, including 13 direct listings, 18 offerings for qualified investors and a real estate investment fund.

UMI’s debut brings the total number of Nomu companies to 69, in addition to Alwaha REIT Fund.

Company Profile

UMI was established in 2006 in Jeddah as a closed joint stock company.

The company's core activity is the manufacture of gypsum boards, gypsum powder, cement boards and false ceilings.