Al Battal Factory to debut on Nomu today

Logo of Al Battal Factory for Chemical Industries Co.

Al Battal Factory for Chemical Industries Co. will start trading on the Nomu-Parallel Market today, Dec. 31, under the symbol 9623 and ISIN Code SA1660VKMBH8, at SAR 63 per share.

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

For More IPOs

The company earlier floated 670,000 shares on Nomu, representing 20.09% of its post-IPO capital, with coverage ratio of 203.5%.

The company’s post-IPO capital amounted to SAR 33.35 million, divided into 3.34 million shares, at a par value of SAR 10 each.

This is the 30th listing on Nomu this year, including three direct listings and 27 offerings to qualified investors.

Last year, Nomu witnessed 35 IPOs, including six direct listings and 29 offerings to qualified investors, in addition to one REIT.

Al Battal Factory brought the number of listed companies on Nomu to 105, in addition to Alwaha REIT Fund.

Al Battal Factory was established in 2007 as a branch of Al Battal Holding Co., a limited liability company, under the name Al Battal Chemical Industries Factory. It was later converted into a closed joint-stock company.

The company’s current operations focus on manufacturing cellulose ether products, including polyanionic cellulose, carboxymethyl cellulose, salt auxiliary products, and thermal coating products.

*The indirect ownership of Bassam bin Mohammed Al Dosari results from his 37.50% direct ownership in Al Battal Investment Co. Al Battal Investment Co. has a 55.09% ownership in the company.