Horizon Educational debuts on Nomu today

Logo of Horizon Educational Co.

Horizon Educational Co. starts trading on the Nomu-Parallel Market today, June 2, under the symbol 9603 and ISIN code SA162GR4M1H5, at SAR 54 per share.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively, the Saudi Exchange (Tadawul) said in a statement.

For More IPOs

The company floated 500,000 shares on Nomu, representing 20% of its 2.5 share million capital. The offering was 681.98% subscribed, Argaam's data showed.

This is the 10^th listing on Nomu in 2024. The listings comprised one direct listing and nine offerings to qualified investors.

In 2023, Nomu witnessed 35 listings, including six direct listings and 29 offerings to qualified investors plus one REIT.

Horizon Educational listing will bring the total number of companies on Nomu to 88, in addition to Alwaha REIT Fund.

Company Profile

Horizon Educational was established as a limited liability company in 2007 in Riyadh. It was converted into a closed joint stock company in 2021.

The company's current activities include pre-school and kindergarten education, as well as primary, middle, and secondary education for male and female students through Al-Woroud Educational Complex. In addition, the firm is engaged in other activities such as playground rentals, trips, nurseries, and international tests.

The activities of the company’s subsidiary, Bawabat Al-Ofoq for Operation and Maintenance Co., include cleaning services for government buildings, maintenance and operation of buildings and facilities, as well as maintenance services.