Al Kathiri Holding Co. will start trading on the Nomu parallel market on Sunday, July 9, under the symbol 9508, the Saudi Stock Exchange (Tadawul) announced in a statement.

 

The daily price fluctuation limit will be at 20 percent per unit.

 

The company’s initial public offering (IPO) was 251 percent oversubscribed.

 

Shares were priced at SAR 31 each, while a total of 97 subscribers bought 819,000 shares at a total value of SAR 60 million, Argaam reported.

 

The company floated 26.1 percent of capital, or 819,000 shares.

 

Al Kathiri, which has SAR 27.3 million in capital, is engaged in the field of contracting, wholesale and retail sale of building materials.

 

The company is the ninth entrant on Nomu ninth since the parallel market’s launch in February. 

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