UFG Sets Price Guidance for Nomu Listing
The Capital Market Authority (CMA) approved the company’s direct listing application in March.
Arabian United Float Glass Company has set a price guidance of SAR 54 ($14.39) for its shares on the Nomu-Parallel Market. Trading will be restricted to qualified investors, as indicated in the company’s registration document.[1]
Read More: Al-Hokail Academy Cancels IPO on Nomu Market
Unlike initial public offerings where share prices are set in advance, the Nomu listing price will be determined by market demand.
The Capital Market Authority (CMA) approved the company’s direct listing application in March.
Last month, Saudi Arabia's Tharwah Company, a human resources advisory firm, disclosed its intentions to launch an initial public offering (IPO) on the parallel market Nomu.
Tharwah aims to offer 705,745 ordinary shares, equating to 15% of the company, valued at $6.2 million, representing 17.64% of its pre-IPO capital.
Recently, Saudi Arabia’s Al-Hokail Academy Specialized Digital Polyclinics Company decided to cancel its planned IPO on the Parallel Market (Nomu) of the Saudi Exchange.
Nomu is a parallel equity market with more flexible listing requirements, providing an alternative platform for companies to go public. Investment in this market is limited to Qualified Investors.