Saudi Exchange Company Celebrates the Listing of Al Muneef Company for Trade, Industry, Agriculture and Contracting on Nomu – Parallel Market.

Riyadh, 7 June 2023: The Saudi Exchange Company celebrated the listing of Al Muneef Company as it lists on Nomu – Parallel Market. The listing ceremony was attended by Mr. Nayef Saleh AlAthel, Saudi Exchange Company Chief of Listing and Eng. Khaled Nasser Al Muneef, Member of the Board of Directors and Vice President of Agriculture at Al Muneef Company.

Nayef AlAthel, Saudi Exchange Company Chief of Listing, said, “The listing of Al Muneef Company showcases the strength of Saudi Arabia’s IPO pipeline and highlights the Kingdom’s development in the agricultural and logistics sector. We would like to congratulate the entire team of Al Muneef Company for their efforts which we hope it encourages other companies within the same industry to consider listing on Nomu – Parallel Market in the future.”

Eng. Khaled Al Muneef, Member of Board of Directors and Vice President of Agriculture of Al Muneef Company, commented, “Today’s announcement marks a new phase in Al Muneef Company’s 40 years of experience. The IPO will help us diversify our services in the region, and support in research and development to further improve the quality of our products, while adding value to our customers. I would like to thank our employees, partners, and customers for their support and dedication throughout the process. We look forward to creating long-term and sustainable 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, percentage of shares offered and minimum number of shareholders. Nomu – Parallel Market is open only to qualified investors.  

Al Muneef Company for Trade, Industry, Agriculture and Contracting offered 760,000 shares, representing 20% of its share capital at the offering price of SAR 70 per share.   

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