Riyal Motors debuts on Nomu today

Logo of Riyal Investment Development Co. (Riyal Motors)

Riyal Investment Development Co. (Riyal Motors) shares will be listed and begin trading on Nomu-Parallel Market as of today, Oct. 24, under the symbol 9584 and ISIN code SA15SGL4LO12, at SAR 42 per share.

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

The company offered 720,000 million shares to qualified investors, representing 9% of the company’s capital. The IPO was 145% covered, according to data available with Argaam.

Riyal Motors will take the number of listings on Nomu to 27 in 2023, including five direct offerings and 22 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.

Riyal Motor’s debut brings the total number of Nomu companies to 71, in addition to Alwaha REIT Fund.

Company Profile

Established in 1993 as a sole proprietorship, Riyal Motors transformed into a closed Saudi joint stock company in 2002, headquartered in Dammam.

The company's activities include wholesale and retail sales of new private vechiles, including ambulances, minibuses, and four-wheel drive (4WD) vehicles.

The company's main activity is long-term and short-term car and vehicle rental services for large institutions and companies.

It also provides multiple options in rental services, including renting vehicles without a driver, in addition to selling and used new cars.

* Aldukheil Financial Group will own 0.19% of the company after the IPO