Saudi Al Ramz, Nofoth Food to trade on Nomu

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RIYADH - Al Ramz Real Estate Company and Nofoth Food Products Company plan to list their shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).

Al Ramz will offer 3.33 million shares, representing 10% of its share capital, after Tadawul passed its request to trade on Nomu on 30 May 2022, according to a recent bourse disclosure.

ANB Capital acts as the financial advisor, bookrunner, and lead manager for the potential initial public offering (IPO). The final price for the IPO will be determined after the book-building period.

In a separate bourse filing, Nofoth Food also unveiled its intention to list 288,000 ordinary shares, accounting for 12% of the issued share capital.

Yaqeen Capital Company, the financial advisor and lead manager for the potential offering, noted that the final price of its offer will be announced after the book-building period, which is set to take place during 18-22 December 2022.

Meanwhile, Tadawul granted its approval for Nofoth Food’s request to trade on the parallel market on 15 March 2022.

Last October, the Capital Market Authority (CMA) greenlighted the two companies’ Nomu listing.