Al Kuzama Trading debuts on Nomu at SAR 107/shr today

Al Kuzama Trading floated 422,400 shares on Nomu. The offering was nearly 108.4% covered.

The offered shares represented 10.71% of the company’s post-IPO capital, amounting to SAR 39.42 million (divided into 3.94 million shares with a par value of SAR 10 each).

The offering of Al Kuzama Trading brought this year’s IPOs to 14 on Nomu, after Shmoh Almadi Co. on Jan. 13,  ITMAM Consulting Co. on Jan. 23, Twareat Medical Care Co. and Alshehili Company for Metal Industries on Jan. 29, Basma Adeem Medical Co. (Smile Care) on Feb. 3. This is in addition to Lamasat Co. on Feb. 9, Hedab Alkhaleej Trading Co. on March 5, Ratio Speciality Company for Trading on March 9, Future Vision for Health Training Co. on April 27, Service Equipment Co. on May 4, Dkhoun National Trading Co. on May 20, Adeer Real Estate Co. and Dkhoun National Trading Co. on May 26 and Axelerated Solutions for Information and Communication Technology Co. on June 1.

Last year, Nomu witnessed 30 IPOs, including three direct listings and 27 offerings to qualified investors.

TThis listing brought the number of Nomu firms to 118, in addition to Alwaha REIT Fund.

Al Kuzama Trading was established in 2013 as a sole proprietorship in Riyadh. It was later transformed into a limited liability company and then into a joint-stock company in 2021. The company's current activities include establishing restaurants that sell a variety of food and beverages, as well as organizing upscale events.

Activities, according to the commercial register, include renovations to residential and non-residential buildings, restaurant services, and the activities of contractors providing catering services. Storage in warehouses, silos, and storage of grain, flour, and agricultural products, as well as dry food stores, are also provided.