Amwaj International starts trading on Nomu today

Logo of Amwaj International Co. 

Shares of Amwaj International Co. will start trading on Nomu-Parallel Market today, June 16, under the symbol 9537 and ISIN Code SA15IH44L0H7.

Daily fluctuation limit is ±30% and static price fluctuation limit is ±10%.

Amwaj International brings the number of Nomu listings in 2022 to 17 companies, which includes Ladun and FADECO this month, Alwasail Industrial, Jahez, AME and AICTEC in January, Gas Arabian Services, Raoom Trading, Obeikan Glass and Saudi Parts Center in February, Al-Jouf Health Water Factory, AZM and Tibbiyah in March, as well as Naseej Tech, Aqaseem and Tadweeer in May.

The listings comprised of seven direct listings and 10 offerings for qualified investors.

Amwaj International floated 600,000 ordinary shares, representing 10% of its SAR 60 million capital.

The final offer price was set at SAR 72 per share, with coverage reaching 976% of total offered shares.  

Amwaj International was established in 2005 as a closed joint-stock company in Riyadh with a capital of SAR 60 million.

The company's main activity is the installation of refrigeration and air-conditioning systems; extension, maintenance and repair of air-conditioning pipes; wholesale of household electronics and electrical appliances; household utensils; sanitaryware and their accessories; heaters and water tanks; the repair of household appliances and garden equipment.

In the prospectus, the company said it does not have any current plans to add any new activities or products, instead it will develop its current products and work on the requests of its customers.

Amwaj International leverages on its brands while promoting its products, which boosts its competitive position. The company is the owner of several trademarks, most notably UGINE.

It has 20 leased properties across the Kingdom and has implemented the electronic registration of only one of these contracts. The company has no owned properties.