Atlas Elevators shares to debut on Nomu today

Logo of Atlas Elevators General Trading & Contracting Co.

Atlas Elevators General Trading & Contracting Co. will start trading on Nomu-Parallel Market today, Oct. 4, under the symbol 9578 and ISIN code SA15SGBKLL10, at SAR 23 per share.

Shares will trade with ±30% daily and ±10% static price fluctuation limits.

The company floated 1.2 million shares, representing 20% its capital, to qualified investors at SAR 23 each. The offering was 495.07% oversubscribed.

Atlas Elevators' initial public offering (IPO) will take the number of listings on Nomu to 24 in 2023, including five direct offerings and 19 offerings for qualified investors.

Nomu saw 32 IPOs last year, including 13 direct listings, 18 offerings for qualified investors and one offer of a real estate investment traded fund (REIT).

Atlas Elevators' debut brings the total number of Nomu listings to 68, in addition to Alwaha REIT Fund.

Company Profile:

Atlas Elevators was established as a Saudi joint-stock company in Riyadh in 2010.

The company manufactures all kinds of elevators with high quality and original spare parts. It also offers after-sale services, including maintenance and technical support for its clients in line with the approved safety standards.