Qomel debuts on Nomu today as 7th listing of 2024

Logo of Qomel Co.

Qomel Co. starts trading on the Nomu-Parallel Market today, May 9, under the symbol 9600 and ISIN code SA162184M018, at SAR 80 per share.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively, the Saudi Exchange (Tadawul) said in a statement.

For More IPOs

Qomel offered 500,000 shares, or 14.29%, of its 3.5 million post-IPO capital, to qualified investors. The initial public offering (IPO) was 274.52% covered.

This is the seventh IPO on Nomu during 2024 after the listing of Pan Gulf Marketing Co. on Feb. 18, WSM Information Technology Co. (Feb. 21), Al-Modawat Specialized Medical Co. (Feb.  25), Quara Finance Co. (March. 7), Al Mohafaza Co. for Education (March 26), and TAQAT Mineral Trading Co. (March 28).

In 2023, Nomu witnessed 35 listings, including six direct listings and 29 offerings to qualified investors plus one REIT.

Qomel will bring the total number of companies on Nomu to 85, in addition to Alwaha REIT Fund. 

Company Profile:

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

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 in Riyadh.