Wed Jun 15, 2022 13:58:00

Saudi Exchange Celebrates the Listing of Ladun Investment Company on Nomu – Parallel Market

Riyadh, 14 June 2022: Saudi Exchange today celebrated the listing of Ladun Investment Company, on the Saudi Exchange’s Nomu – Parallel Market. The ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange and Eng. Nasser Al-Arifi, Managing Director of Ladun Investment Company.

Commenting on the listing, Mr. Mohammed Al Rumaih, CEO of Saudi Exchange, said: “We are glad to welcome a new listing on Nomu – Parallel Market and it is great to see the increase of listings momentum which takes us from success to another. The listing of Ladun Investment Company is another successful listing on Nomu – Parallel Market, offering regional and international investors diverse investment options to consider for their portfolios. The listing marks another success for the Saudi Exchange as we look to position ourselves as a leading stock exchange for issuers in the Kingdom and globally. We congratulate Ladun Investment Company’s management on this significant milestone and look forward to seeing their progress over the coming years.”

Eng. Nasser Al-Arifi, Managing Director of Laden Investment Company, said: “The listing of Laden Investment in Nomu - Parallel Market is an important stage in our company’s journey as we are moving steadily towards implementing the transformation strategy, and we look with great optimism at this stage during which we look forward to strengthening governance and quality This is in addition to achieving our ambitious goals in digital transformation to be at the forefront of the market for developing and managing real estate assets in the Kingdom to support Vision 2030. On this occasion, we thank our shareholders for their trust in us and their great support that made this step a tangible reality.”

Nomu is the Saudi Exchange’s parallel 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, number of shares offered and minimum number of shareholders. Nomu is open only to qualified investors.

Ladun Investment Company lists 5,000,000 shares, representing 10% of its share capital, at the offering price of SAR 18 per share.