Al Oqiylat appoints Amwal as financial advisor for listing on Nomu

Agreement signing ceremony

Al Oqiylat Co., a closed joint stock company located in Buraydah, appointed Amwal Financial Co. as a financial advisor for its listing on Nomu Parallel Market.

In a statement, the company said the potential listing will be subject to regulatory approvals from the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul).

The company stated that its strategy is to expand in the travel and garden supplies market locally and internationally.

Abdullah Al Juraish, Chairman of Al Oqiylat, said signing this agreement with Amwal is of great importance to the company, which aspires to be one of the major GCC firms in travel and garden supplies.

Meanwhile, CEO Abdulaziz Al-Dhalea pointed to the company’s aspirations, as well as openness of markets and the expected significant growth in the local and international markets after their recovery from COVID-19 pandemic.

Elsewhere, Mahmoud Al-Sayyed, CEO of Amwal, said the listing on Nomu gives the company broader prospects for growth and development to achieve the aspirations of its shareholders and management.

Al Oqiylat was established in early 2013 in Buraydah, and then began to expand its direct and indirect sales outlets, which exceed 200 locally and internationally.

The firm went through two investment rounds in 2021, to finance its expansions through crowdfunding platforms, with the participation of more than 1,500 shareholders currently.

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