Subscriptions to the Shmoh Almadi Company’s initial public offering of 1.4 million shares on Nomu - Parallel Market will start on December 24.

The subscription period will end on December 31, Value Capital Company, the IPO’s lead manager and financial advisor, said in a statement.

The Saudi Exchange and the Capital Market Authority approved Shmoh Almadi’s application for the listing in September.

(Editing by Seban Scaria seban.scaria@lseg.com)