The Saudi Arabian Capital Market Authority (CMA) has approved the applications of four companies to list their shares on the Nomu-Parallel Market.
The initial public offering (IPO) approvals are valid for six months and were submitted by the following companies:
- ITMAM Consulting Co.
- Unions for Trade Co.
- Alshehili Co.
- basma Adeem Medical Co.
ITMAM Consulting, led by Majed Al-Osaimi, specialises in providing business transformation, management consulting, and capacity-building services. The company plans to offer three million shares, representing 14.29% of its capital.
In addition, International Unions for Trade was established in 2012 and has since expanded its water, wastewater and energy services throughout the Kingdom and the Middle East and North Africa (MENA) region. The company produces wrought iron, metal and non-metallic products in the forms of pipes, fittings, valves, supply, and smart metering solutions.
International Unions for Trade will list 247,000 shares, or 13% of its capital on Nomu.
Meanwhile, Alshehili Co., founded in 1981 in Riyadh, plans to offer 500,000 shares, representing 20% of its capital. The company focuses on logistics and military industries, providing products such as refrigerated trucks and armoured vehicles.
Finally, basma Adeem Medical Co. will register four million shares, equating to 20% of its capital.
The CMA’s approvals will be void if the offerings are not completed within six months.