Molan Steel starts trading on Nomu today

Logo of Molan Steel Co.

Molan Steel Co.  starts trading on Nomu-Parallel Market today, Dec. 20, with the symbol 9553 and ISIN Code: SA15LGC4L8H3, Tadawul said in a statement.

The stock will have daily price fluctuation limits of +/-30% and static fluctuation limits of +/-10%.

Molan floated 532,410 shares, or 20.02% of its SAR 26.6 million post-IPO capital.

The final offer price was set at SAR 24 per share. The offering was 1,386.06% subscribed. 

Molan Steel marks the 29th listing on Nomu this year. The Parallel Market witnessed 12 direct listings and 17 offerings to qualified investors.

Today’s listing brings up the total number of companies listed on Nomu to 43, in addition to Alwaha REIT Fund.

Company Highlights

Molan Steel, a Saudi closed joint stock company, which was established in 2015 with its headquarters in Riyadh as a sole proprietorship.

The company's activities are represented in wholesale of metal and iron strips and blocks, wholesale of metal and iron pipes, wholesale of iron tools and locks, wholesale of industrial metal roofs, doors, windows and metalworks.

For More IPOs