ProMedEx shares begin trading on Nomu today

Logo of Professional Medical Expertise Co. (ProMedEx)

Shares of Professional Medical Expertise Co. (ProMedEx) began trading on the Nomu-Parallel Market today, July 26, with the symbol 9574 and ISIN Code SA15RH24LJ13, according to the Saudi Exchange (Tadawul).

The stock will trade with daily price and static price fluctuation limits of +/- 30% and +/- 10%, respectively, Tadawul announced on its website.

The company floated 1.05 million shares to qualified investors, representing 30% of its capital. Shares have been priced at SAR 68 each, according to data available with Argaam. The initial public offering (IPO) was 449.27% covered.

On March 27, the CMA approved ProMedEx's application to float 30% of its capital on Nomu. This is Nomu's 17th listing in 2023, bringing the total to three direct listings and 14 offerings to qualified investors.

Last year, Nomu witnessed the IPOs of 32 companies, including 13 direct listings and 18 offerings to qualified investors, as well as one REIT. 

ProMedEx's listing will bring the total number of companies listed on Nomu to 62, in addition to Alwaha REIT Fund.

About ProMedEx:

Headquartered in Dhahran, ProMedEx is a closed joint stock company established in 2009.

The company mainly imports and exports medical implants, devices, and high-tech consumables, in addition to selling them to hospitals as well as private and governmental medical centers across the Kingdom.