Knowledge Tower shares debut on Nomu today

Logo of Knowledge Tower Trading Co. 

Knowledge Tower Trading Co. will debut on Nomu - Parallel Market today, Nov. 17, with the symbol 9551 and ISIN Code: SA15L0K4L7H2. 

Daily fluctuation limit will be ±30%, while the static price fluctuation limit will stand at ±10%.

The company recently offered 350,000 shares, or 20% of its SAR 17.5 million capital, on Nomu.

Qualified investors fully subscribed to the offered shares and the offering was 948% oversubscribed. The offering price was set at SAR 40 a share.

Ten shares minimum were allocated to each subscriber, while the remaining shares were allocated pro rata.

Knowledge Tower is the 28th IPO on Nomu since the beginning of the year, including 12 direct listings and 16 listings for qualified investors.

Company Profile

Incepted in 2011 as a sole proprietorship, Knowledge Tower was converted into a limited liability company in 2018, then to a Saudi closed joint stock company in 2021, headquartered in Dammam. The firm is capitalized at SAR 17.5 million, divided into 1.75 million shares.

The company’s business activities, in the commercial register, comprise wholesale of stationery and office supplies, and the retail sale of stationery, newspapers and magazines. In addition, the company’s business portfolio includes publishing paper books, dictionaries, atlases and maps, as well as importing and producing written, drawn or illustrated intellectual products.

Actual business portfolio includes marketing and selling educational books to schools, universities, training institutes and government educational institutions; development of educational programs for schools, as well as providing e-learning platforms and modern educational resources for training and designing their educational models.