Saudi Exchange Welcomes the listing of Neft Alsharq Company for Chemical Industries, on Nomu - Parallel Market

Riyadh, 25 June 2024: The Saudi Exchange today celebrated the listing of Neft Alsharq Company for Chemical Industries, specializing in the manufacture of industrial motor oils and lithium and calcium greases, on Nomu Parallel Market. Mr. Nasser Alajaji, Chief of Listing at Saudi Exchange, and Dr.Ibrahim Almohsen, Chairman of Neft Alsharq attended the listing ceremony.

In 2012, Neft Alsharq began their journey trading oils and eventually established the Bashaer Al-Mustaqbal Factory for production and packaging. Since then, the company expanded their business by acquiring the Arabian Lubricants Factory in Jeddah in 2019, investing in the latest technology for high quality oil production and packaging, and providing their services worldwide.

Mr. Nasser Alajaji, Chief of Listing at Saudi Exchange, said: "The Saudi Exchange welcomes Neft Alsharq to Nomu – Parallel Market, further strengthening the depth of companies listed on the Saudi Exchange. This listing underscores the Exchange's role as an ideal platform for growth and highlights the strength of the Kingdom's Materials sector. We’d like to congratulate the leadership at Neft Alsharq for this achievement and anticipate future success as a valued listed entity."

Dr. Ibrahim Almohsen, Chairman of Neft Alsharq, said: "Over the years, we have expanded and refined our business offerings through technological advancements and quality products that align with international best practices, ensuring our clients worldwide receive the finest service. Our listing on Nomu – Parallel Market represents the next step in Neft Alsharq’s growth and our contribution to the Kingdom’s robust Materials sector.”

Neft Alsharq offered 5 million shares representing 20% of the Company’s issued share capital.

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