Saudi Exchange welcomes Osool & Bakheet Investment Company to Nomu Parallel Market
Riyadh, 7 November 2023: The Saudi Exchange today celebrated the listing of Osool & Bakheet Investment Company, a Saudi company specializing in brokerage and asset management services, as it lists on Nomu – Parallel Market . The listing ceremony was attended by Mr. Nayef Alathel, Chief of Listing at the Saudi Exchange, Mr. Beshr Bakheet, Founder and Board Member of Osool & Bakheet Investment Company, and Mr. Mazin Al Dawood, CEO of Osool & Bakheet Investment Company.
Nayef Alathel, Chief of Listing at the Saudi Exchange, said, “The listing of Osool & Bakheet Investment Company is reflective of the steady growth in the Kingdom’s investment sector, in line with our commitment to Kingdom’s Vision 2030’s Financial Sector Development Program. The successful listing of another company on Nomu – Parallel Market in the fourth quarter of this year further highlights the resilience and growth potential of the Saudi capital market. We congratulate the company’s management and look forward to their journey as a listed company.”
Mr. Mazin Al Dawood, CEO of Osool & Bakheet Investment Company, commented, “We seek to expand our activities by developing new Investment products and implementing expansion plans for our existing products. To achieve these targets, we will strive to maintain the qualified and distinguished staff in the company and target more of them to be part of the company’s work force. The listing today represents a milestone in the company’s journey, and will enable us to contribute and support the growth of the Saudi financial market and the Kingdom. I would like to thank the company’s employees, customers and shareholders for their exceptional efforts and unlimited support over the years, and we look forward to achieve sustainable long-term value for our shareholders.”
Nomu is the Saudi Exchange’s parallel equity market, which acts as an alternative platform for companies seeking to expand and go public. Nomu -Parallel Market 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, minimum number of shareholders, and offering percentage. Nomu -Parallel Market is open only for qualified investors.
Osool & Bakheet Investment Company offered 1,500,000 shares at the offering price of SAR 45 per share.