Saudi: First Avenue to begin trading on Nomu this week

The firm will list 16.42mln shares, representing 8.01% of its share capital, under the symbol 9610

Staff Writer, Mubasher

October 15, 2024

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Riyadh – First Avenue Real Estate Development Company is set to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) on Wednesday, 16 October 2024.

The firm will list 16.42 million shares, representing 8.01% of its share capital, under the symbol 9610, according to a bourse disclosure.

Tadawul pointed out that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively.

The Capital Market Authority (CMA) greenlighted the company’s Nomu listing last June.

In August, Makkah Construction and Development Company purchased 56.81 million shares in First Avenue, equivalent to 30% stake, at a total value of SAR 340.88 million.

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