Saudi Exchange Celebrates the Listing of Bena Steel Industries Company on Nomu – Parallel Market
Riyadh, 22 March 2023: Today, the Saudi Exchange welcomed the listing of Bena Steel Industries Company, an independent building services company specialized in all kinds of building projects, as it lists on the Nomu – Parallel Market. The listing ceremony was attended by Mr. Nayef Al Athel, Chief of Listing at Saudi Exchange, and Mr. Fawaz Al Bawardi CEO of Bena Steel Industries Company.
Speaking on the occasion, Mr. Nayef Al Athel, Chief of Listing at Saudi Exchange said, “The listing of Bena Steel Industries Company is another milestone towards the Saudi Exchange’s ongoing efforts to offer several investment opportunities across industries to investors, regionally and globally. With this listing, Bena Steel Industries Company demonstrates the capabilities of the Kingdom’s manufacturing sector. On this occasion we would like to congratulate Bena Steel Industries Company on this successful step, and wish them the best of luck on their new journey as a listed company.”
Mr. Fawaz Al Bawardi, CEO of Bena Steel Industries Company commented, “This listing represents a special event in the history of our company and a very important step towards expanding our business and our presence in the region, we look forward as a listed company to develop our capabilities in a way that enhances the interests of our customers and provide them with the best innovative products and services. I am very grateful to Bena Steel Industries Company employees for all their support throughout the listing process and looking forward to sharing more updates in the future.”
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.
Bena Steel Industries Company offered 600,000 shares, representing 12% of its share capital at the offering price of SAR 52 per share.