ASAS Makeen to make Nomu debut on June 16

Logo of ASAS Makeen Real Estate Development Co.

ASAS Makeen Real Estate Development Co.’s shares will list and start trading on the Nomu-Parallel Market on June 16, with the symbol 9640 and ISIN Code SA16AH84MK14.

The stock will trade with daily and static price fluctuation limits of +/-30% and +/-10%, respectively, the Saudi Exchange (Tadawul) said in a statement today, June 12.

For More IPOs

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

According to data available with Argaam, ASAS Makeen floated one million shares on Nomu, at SAR 80 per share, in an offering that ran from May 19 to May 25.

The offered shares represented 10% of the company’s SAR 100 million share capital, divided into 10 million shares, at a SAR 10 par value.

The offering was 1,949.5% oversubscribed.