Al Mohafaza for Education to start trading on Nomu as 5th lisiting of 2024

Logo of Al Mohafaza Co. for Education

Shares of Al Mohafaza Co. for Education began trading on Nomu-Parallel Market today, March 26, with the symbol 9598 and ISIN Code SA161G54LV18, at SAR 18 per share.

The daily and static price fluctuation limits will be ±30% and ±10%, respectively.

For More IPOs

Al Mohafaza for Education offered 1.6 million shares, or 20% of its share capital, to qualified investors. The initial public offering (IPO) was 324.09% covered.

This is the fifth IPO on Nomu during 2024 after Pan Gulf Marketing Co. on Feb. 18, WSM Information Technology Co. on Feb. 21, Al-Modawat Specialized Medical Co. on Feb.  25, and Quara Finance Co. on March. 7.

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

Al Mohafaza for Education will bring the total number of companies on Nomu to 82, in addition to Alwaha REIT Fund.

Company Profile

 Al Mohafaza for Education Co. was established as a branch of a sole proprietorship in 2004, and was transformed into a closed Saudi joint stock company in 2022.

The company owns and rents land plots, as well as establishes, manages and operates private schools for all levels of public education (pre-university), in addition to managing, operating, and renting its educational, sports and recreational facilities.