Enma Al Rawabi debuts on Nomu today as 9th direct listing

Logo of Enma Al Rawabi Co.

Shares of Enma Al Rawabi Co. will be directly listed and traded on Nomu Parallel Market, today, Oct. 28, 2021, with the symbol 9521 and ISIN Code SA15D07KKOH6.

The stock will have ±30% daily price fluctuation limit and ±10% static price fluctuation limit.

On Sept. 20, the Capital Market Authority (CMA) approved Enma Al Rawabi’s application to register its shares for a direct listing on Nomu, Argaam reported.

The company published on Sept. 28 the document for listing its shares, in which the price guidance was set at SAR 15 per share.

This is the ninth direct listing on Nomu after Riyadh Cement Co. in September 2020, Watani Iron Steel Co. in February 2021, Fesh Fash Snack Food Production in May 2021, Mohammed Hasan AlNaqool Sons Co. in June 2021 and National Fertilizer Co. in July 2021, in addition to Canadian Medical Center and Banan Real Estate in August 2021, along with National Gas Distribution Co. in September 2021.

It is also the ninth listing on Nomu this year, including eight direct listings and the initial public offering (IPO) of Burgerizzr, bringing the total number of Nomu-listed companies to 13.

Company Profile

Riyadh-based Enma Al Rawabi was established in 2011 as a closed joint stock company with SAR 400 million capital, divided into 40 million shares. 

The company operates in real estate development and investment, as well as managing and leasing residential and non-residential units (including schools, hospitals, hotels), and real estate brokerage.

The company noted that it does not currently have any new properties under development and, therefore, there is no any contractual relationship.

Ibrahim Saad Mohamed Almousa is the company's major shareholder before the direct listing, with a 79.67% stake.