Lana Medical issues prospectus to float 720,000 shares on Nomu

Logo of Lana Medical Co.

Lana Medical Co. issued today, Oct. 2, the prospectus to list 720,000 shares, or 20% of capital, on Nomu-Parallel Market.

The offering period for qualified investors will run for five days from Nov. 12-16.

The offering will be confined to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the CMA.

The company plans to use the IPO proceeds to set up two plants for medical waste processing in Abha and Hail, and complete the construction of Jeddah plant, according to the prospectus.

Lana Medical was established as a limited liability company in Riyadh in 2010. It converted into a closed joint-stock company in 2020. It currently operates with SAR 30 million capital.

The company's activities, as stated in its Articles of Association, are to engage in all aspects of activities related to the medical fields, including medical industries, therapeutic services, other related and complementary industries, and any other activity, including treating and recycling medical waste, inside Saudi Arabia and abroad.

Lana Medical’s activities, as stated in its commercial register, include manufacturing of disinfectants and sterilizers for medical devices and products, surgical and fracture dressings, medical padding, surgical sutures, medical cotton, pharmaceutical materials used in the production of medicines and pharmaceutical materials used in the manufacture of vitamins.

The company also manufactures health or pharmaceutical items from rubber, cans and boxes from plastics, bags from plastics, equipment, tubes, regular radiological devices and parts thereof for medical, scientific and research purposes, and others.

In June, the Capital Market Authority (CMA) approved the application submitted by the company to register and offer 720,000 shares on Nomu.

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