Rawabi Marketing’s Nomu IPO cancelled on incomplete offering

Rawabi Marketing International would have been 21st firm to list on Nomu in 2025

Rawabi Marketing International Co. (RMI) announced that its planned offering on the Nomu-Parallel Market was incomplete and, accordingly, the company’s IPO is void.

In a statement to Tadawul, the company said subscription proceeds will be refunded to investors starting today, Sept. 8, and no later than the close of business on Sept. 9.

For More IPOs

On Aug. 27, qualified investors began subscribing to one million of RMI’s shares, which were to list on Nomu at SAR 35 per share. The subscription period lasted six business days to Sept. 3, Argaam earlier reported.

The offering would have been the 21st on Nomu since the beginning of this year.