Hamad Bin Saedan to make Nomu debut on Sept. 16

Logo of Hamad Mohammed Bin Saedan Real Estate Co.

Shares of Hamad Mohammed Bin Saedan Real Estate Co. will list and start trading on the Nomu-Parallel Market on Sept. 16, under the symbol 9648 and ISIN Code SA56C06KMO19.

The stock will trade with daily and static price fluctuation limits of +/-30% and +/-10%, respectively, the Saudi Exchange (Tadawul) said today, Sept. 14.

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Separately, the Securities Depository Center Co. (Edaa) said Hamad Bin Saedan’s subscribed securities were deposited today into the accounts of eligible shareholders.

According to Argaam data, qualified investors subscribed to the 4.23 million shares of Hamad Bin Saedan on Nomu. The offered shares represented 17.64% of the company’s pre-IPO capital and 15% of post-IPO capital.

Coverage reached 114.19% of the total offered shares during the subscription period, which ran from Aug. 29 to Sept. 4.

The company’s current capital stands at SAR 240 million and will increase to SAR 282.35 million post-offering, divided into 28.24 million shares at a nominal value of SAR 10 each.