Al-Modawat debuts on today as 3rd NOMU listing in 2024

Logo of Al-Modawat Specialized Medical Co.

Al-Modawat Specialized Medical Co. shares will be listed and begin trading on Nomu-Parallel Market as of today, Feb. 25, under the symbol 9594 and ISIN code SA161054LT11, at SAR 111 per share.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.

For More IPOs

Earlier, the company offered 475,000 shares to qualified investors, representing 20% of the post-IPO capital. The offering was 135.75% subscribed, according to Argaam's data.

Al-Modawat is the third offering on Nomu in 2024, after Pan Gulf Marketing Co.’s share offering on Feb. 18, and WSM for Information Technology Co.’s offering on Feb. 21.

Nomu saw 35 IPOs last year, including six direct listings, 29 offers to qualified investors, and a real estate investment fund.

With Pan Gulf Marketing, the number of companies listed on the parallel market reached 81, in addition to the only real estate fund—Alwaha REIT Fund.

Company Profile

Al-Modawat is a closed Saudi joint stock company established in Muhayil Asir in 2014 under the name Muhayl National Hospital Co. It currently operates with SAR 19 million in capital. 

According to the company’s commercial register, its activities include medical operation of hospitals, day surgery centers, as well as pharmacy and drug store activities.