08/03/2023 14:57:00

Saudi Exchange Celebrates the Listing of Waja Company on Nomu - Parallel Market

Riyadh, 8 March 2023: The Saudi Exchange today celebrated the listing of Waja Company, a multi-sector company operating in the construction, media and technology sectors, as it lists on Nomu – Parallel Market. The listing ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange and Eng. Ibrahim Al Abdulsalam Chairman of Waja Company.

Mohammed Al Rumaih, CEO of Saudi Exchange, said, “The listing of Waja Company represents steady growth in the Kingdom’s construction and interior design sector, in addition to the media and technology industry. With this listing, we look to continuously diversify the breadth of investment options available to investors, regionally and globally within Nomu – Parallel Market. We would like to congratulate the Waja Company and its management and look forward to following its journey as a listed company.”

Ibrahim Al Abdulsalam, Chairman of Waja Company commented, “Today represents a significant moment in the history of our company and is an important step in enabling us to expand our business and services in the region. We are proud of the contribution the company has made in the development and modernization of the Kingdom of Saudi Arabia in various sectors. As a listed company, we look forward to expanding our infrastructure and technology to provide best in class services to our clients, and enhance profitability for 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, number of shares offered and minimum number of shareholders. Nomu - Parallel Market is open only to qualified investors. 

Waja Company offered 455,000 shares, representing 13% of its share capital at the offering price of SAR 90 per share.