Balsm Alofoq shares to debut on Nomu on Dec. 16

Logo of Balsm Alofoq Medical Co.

The Saudi Exchange (Tadawul) announced that shares of Balsm Alofoq will start trading on the Nomu-Parallel Market on Dec. 16, with the symbol 9620. The stock will trade with daily and static price fluctuation limits of +/-30% and +/-10%, respectively.

In a separate statement, the Securities Depository Center Co. (Edaa) announced that the company’s subscribed securities were added into the accounts of eligible shareholders today.

For More IPOs

According to data available to Argaam, Yaqeen Capital, the financial advisor and lead manager on the company’s initial public offering (IPO) on Nomu announced the offering's completion at SAR 60 per share. The IPO was 1,694.55% oversubscribed.

Post-IPO, the company’s capital will increase to SAR 12.5 million, divided into 1.25 million shares at a nominal value of SAR 10 each.