Saudi Exchange Celebrates the Listing of Balady Poultry Company on Nomu -Parallel Market
Riyadh, 19 March 2023: The Saudi Exchange today celebrated the direct listing of Balady Poultry Company, a Saudi based poultry producer, as it lists on Nomu – Parallel Market. The listing ceremony was attended by Mr. Sulaiman Abdulrahman Alaskar, Domestic Listing Manager at the Saudi Exchange and Dr. Abdulrahman Saad Alshahrani, Chairman of Balady Poultry Company.
Sulaiman Alaskar, Domestic Listing Manager, said, “We are delighted to welcome Balady Poultry Company to the Saudi Exchange. Today, we celebrate yet another successful listing in the food and beverage sector, which is growing rapidly in Saudi Arabia. The listing of Balady Poultry Company to the market offers investors another opportunity to diversify their portfolio and participate in the growth of this dynamic industry. We congratulate Balady Poultry Company on their listing and look forward to supporting them on their continued journey towards success and expansion.”
Abdulrahman Alshahrani, Chairman of Balady Poultry Company, commented, “As one of the leading producers and suppliers of poultry products in Saudi Arabia, listing on Nomu - Parallel Market is a significant milestone for Balady Poultry Company. We have been working tirelessly to enhance our product offerings, optimize our operations, and expand our geographical presence across Saudi Arabia. The successful listing on the market is a testament to the hard work and dedication of our team. We are excited to embark on this new chapter as a listed entity and look forward to further contributing to the growth of the food and beverage sector in Saudi Arabia.”
Nomu is the Saudi Exchange’s parallel equity market, which acts as an alternative platform for companies seeking to expand and go public. Nomu aims to provide an opportunity for small and medium-sized companies to diversify their sources of funding and develop their businesses and activities by offering lighter listing requirements in terms of market capitalization, percentage of shares offered and minimum number of shareholders. Nomu is open only to qualified investors.
Balady Poultry Company listed 6.57 million shares, at the guiding price of SAR 91 per share.