Fad International debuts on Nomu today

Logo of Fad International Co.

Fad International Co. shares began trading on the Nomu-Parallel Market today, Nov. 28, under the symbol 9589 and ISIN code SA15THA4LQH2, at SAR 84 per share.

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

The company offered 240,000 shares to qualified investors, representing 20% of it's post-IPO capital. The IPO was 922.55% oversubscribed, according to data available with Argaam.

Fad International will take the number of listings on Nomu to 31 in 2023, including six direct offerings and 25 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.

With the listing of Fad International, the number of companies listed on the parallel market reaches 75, in addition to a single real estate fund, Alwaha REIT Fund.

Company Profile:

Fad International is a closed Saudi joint stock company, established in 2009, and headquartered in Jeddah, Saudi Arabia.

The company's activities, according to its commercial register, include wholesale and retail sales of ready-made women's clothing. The company's actual activity is retail and wholesale of clothing, fabrics, bags, shoes and accessories, leather products, perfumes, and cosmetics. 

The company runs successful operations across the GCC and the Middle East, including Saudi Arabia, Bahrain, and Egypt.

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