Saudi Exchange celebrates the listing of Paper Home Company on Nomu – Parallel Market
Riyadh, 4 September 2023: The Saudi Exchange today celebrated the listing of Paper Home Company, one of the leading companies in the field of manufacturing corrugated cardboards of various types in the Kingdom of Saudi Arabia and the region, as it lists on Nomu – Parallel Market. The listing ceremony was attended by Mr. Mohammed Sulaiman Al Rumaih, CEO of Saudi Exchange and Mr. Faisal Yakoub Almaghrabi, Board Member and Managing Director of Paper Home Company.
Mohammed Al-Rumaih, CEO of Saudi Exchange, said: "The listing of Paper Home Company on Nomu – Parallel Market introduces a more diverse range of investment opportunities for both local and international investors in the Saudi capital market. This is a positive development that reinforces our position as a leading emerging market and we are confident that Nomu – Parallel Market will continue to witness a growing momentum of listings across various industries. We look forward to seeing the journey of Paper Home Company on the Saudi Exchange and wish them all the best.
Faisal Almaghrabi, Board Member and Managing Director of Paper Home Company, commented "The listing of Paper Home Company on Nomu – Parallel Market marks a significant milestone in our growth journey. This move will provide us with the necessary resources to fuel our expansion plans and enable us to adopt innovative and advanced technologies to streamline our production process. We remain committed to upholding the highest standards of product quality and service excellence for all our stakeholders. We look forward to embarking on the next chapter of our business’ growth journey.”
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.
Paper Home Company listed 1,500,000 shares, at a guiding price of SAR 75 per share.