Qomel issues prospectus to float 500,000 shares on Nomu

Logo of Qomel Co.

Qomel Co. issued today, March 24, the prospectus to list 500,000 shares, representing 14.29% of its post-IPO capital of SAR 35 million (3.5 million shares), on the Nomu-Parallel Market.

The IPO will be through issuing new shares and offering them to qualified investors.

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The company obtained on Dec. 13, 2023, the Capital Market Authority’s (CMA) approval on the offering.

The share sale, which will run from April 21-25 for qualified investors, will be limited to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the CMA.

Qomel is a Saudi closed joint-stock company, established as a limited liability company in 2007 and headquartered in Riyadh.

The company's activities, according to its commercial register, are represented in drug warehouse activities, selling natural medicinal herbs, and medical devices and products stores

Its current actual activity is to work as an agent or distributor for several multinational companies specialized in manufacturing and producing specialized pharmaceutical and medical preparations to treat patients in various fields. Qomel sells medicines, dental supplies, and medical devices in Saudi Arabia.

The company has a wholly-owned subsidiary, Qomal Factory Co., which is an under-construction pharmaceutical factory located in Riyadh.