Neft Alsharq debuts on Nomu today

Logo of Neft Alsharq Co. for Chemical Industries

Neft Alsharq Co. for Chemical Industries starts trading on the Nomu-Parallel Market today, June 25, under the symbol 9605 and ISIN code SA16301KM2H2, at SAR 3.60 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

The company offered five million shares to qualified investors, representing 20% of its 25 million post-IPO share capital. The offering was 489.05% subscribed, Argaam's data showed.

This is the 11th listing on Nomu in 2024. The listings comprised one direct listing and 10 offerings to qualified investors.

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

Neft Alsharq will bring the total number of companies on Nomu to 89, in addition to Alwaha REIT Fund.

Company Profile

Neft Alsharq is a Saudi-closed joint stock company. It was stablished in 1995 as a sole proprietorship, headquartered in Riyadh.

The activities of the company include producing, selling, and exporting various types of gasoline and diesel engine oils, hydraulic oils, transmission oils, base oils, industrial greases, engine coolants, and other related products.

** There is an indirect ownership by other shareholders who own less than 5%.