Saudi Exchange Celebrates the Listing of Mulkia Investment Company on Nomu - Parallel Market
Riyadh, 12 November 2023: The Saudi Exchange today celebrated the listing of Mulkia Investment Company, a Saudi investment management firm, as it lists on Nomu – Parallel Market. The listing ceremony was attended by Nayef Alathel, Chief of Listing at the Saudi Exchange, and Omar Alothaim, CEO of Mulkia Investment Company.
Nayef Alathel, Chief of Listing at the Saudi Exchange, said, “The Kingdom’s investment and financial sector has been growing recently, and the listing of Mulkia Investment Company is a testament to the company's strong performance within this sector. As the latest company to join Nomu – Parallel Market, we are encouraged by the continued progress in the diversification of the market and the companies’ recognition of the benefits of listing. We would like to congratulate the company’s management and look forward to their continued growth and contribution to the Kingdom's economic development."
Omar Alothaim, CEO of Mulkia Investment Company, commented, “We strive to be the leading investment services provider in the Middle East that outperforms local and regional standards, and the listing today on Nomu - Parallel Market marks a new phase in our long-term strategy. Also, it will help us contribute to the growth of the Saudi capital market and the Kingdom."
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.
Mulkia Investment Company offered 1,300,000 shares at the offering price of SAR 38 per share.