Saudi Top Trading shares debut on Nomu today

Logo of Saudi Top Trading Co.

Saudi Top Trading Co. will debut on Nomu-Parallel Market today, Dec. 22, with the symbol 9552 and ISIN Code: SA15LI2KL814.

Daily fluctuation limit will be ±30%, while the static price fluctuation limit will stand at ±10%.

The company recently offered 880,000 shares, or 22% of its capital, on Nomu at a price of SAR 133 per share. The offering was 102.8% oversubscribed.

Saudi Top Trading is the 30th IPO on Nomu since the beginning of the year, including 12 direct listings and 18 listings for qualified investors.

This listing brings the number of Nomu-listed companies to 44, in addition to Alwaha REIT Fund.

Company Profile

The company was established in 2007 in Riyadh as a closed joined stock company. Its current capital stands at SAR 40 million, divided into 4 million shares.

The firm's main activities comprise the purchase of various plastic and rubber waste from the municipality and other sources, such as petrochemical companies, and, plastic and rubber producers. The company then recycles it to produce plastic granules. 

The company produces nine main products, the most important of which is the processed polyethylene wax using the latest technologies. It markets and sells its various products in several countries in Asia, Europe and Africa, as well as the Saudi market.