Shmoh Almadi begins trading on Nomu today at SAR 22/shr

Logo of Shmoh Almadi Co. 

Shmoh Almadi Co. will start trading on the Nomu-Parallel Market today, Jan. 13, under the symbol 9622 and ISIN Code SA1660B4MB12, at SAR 22 per share.

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

For More IPOs

The company earlier floated 1.4 million shares on Nomu, representing 14.89% of its post-IPO capital, with coverage ratio of 195.5%.

The company’s post-IPO capital amounted to SAR 47 million, divided into 9.4 million shares, at a par value of SAR 5 each.

Last year, Nomu witnessed 30 IPOs, including three direct listings and 27 offerings to qualified investors.

This listing brings the number of Nomu-listed firms to 106, in addition to Alwaha REIT Fund.

Shmoh Almadi was established as a sole proprietorship in Riyadh in 2006. It later converted into a joint stock company.

The company's activities, as stated in its commercial register, include the manufacture of bread and its products by automated bakeries; biscuits of all kinds; popular food bread; and raw pastry sheets including matai. This is in addition to the manufacture of popular and oriental sweets of all kinds, land transportation of goods, and transportation of refrigerated and frozen goods. The company's activities also include refrigerated food stores, storage in silos of grain, flour, and agricultural products, as well as refrigerated and dry food stores, retail sale of bakery products and sweets.