Pan Gulf Marketing debuts on Nomu today as first listing in 2024

Logo of Pan Gulf Marketing Co.

Pan Gulf Marketing Co. shares began trading on the Nomu-Parallel Market today, Nov. 18, under the symbol 9593 and ISIN code SA161054LSH3, at SAR 51 per share.

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

The company offered 600,000 shares to qualified investors, representing 12% of the company’s capital. The IPO was 108.92% oversubscribed, according to data available with Argaam.

Pan Gulf Marketing is the first offering on Nomu in 2024.

Nomu saw 35 IPOs last year, including six direct listings, 29 offers to qualified investors, and a real estate investment fund.

With Pan Gulf Marketing, the number of companies listed on the parallel market reached 79, in addition to the only real estate fund, Alwaha REIT Fund.

Company Profile

Pan Gulf Marketing was established in Riyadh in 1985 as a limited liability company, which converted into a closed joint stock company in 2011.

The company's activities, according to its commercial register, include repairing typewriters and photocopiers, maintaining electrically powered hand tools and appliances, as well as repairing and maintaining of multi-use consumer machinery. This is in addition to the wholesale trade of textiles, footwear, household goods, accessories, stationery and other stationery, retail sale of camping equipment, trekking supplies, hunting tools, toys, bags, packaging equipment, cleaning materials, and sale of tools and plastics.

Pan Gulf Marketing is currently active in purchasing, importing and exporting stationery and office supplies stationery products.