Mohammed Hadi Al-Rasheed issues prospectus to float 1.44M shares on Nomu

Logo of Mohammed Hadi Al-Rasheed Co.

Mohammed Hadi Al-Rasheed Co. announced today, March 28, its prospectus to float 1.44 million ordinary shares on the Nomu-Parallel Market.

The offered shares represent 12% of the company’s SAR 120 million capital, divided into 12 million shares.

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The offering will run from April 28 to May 6.

The share sale will be limited to qualified investors, as stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA).

In 2000, the company was established as a sole proprietorship in Riyadh and converted into a closed Saudi joint stock company in 2021.

The company currently manufactures marble and granite, while specializing in silica sand production and supply, and gravel production. It also produces and sells asphalt concrete, in addition to contracting and maintenance.

The CMA approved the registration and listing of the company's shares on Nomu in December 2023.

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