CMA greenlights IPO of 4 firms on Nomu

The Capital Market Authority (CMA) approved today, Oct. 28, the applications received from four companies to register and offer their shares on the Nomu-Parallel Market, as follows:

The market regulator approved ITMAM Consulting Co.’s application to register and offer three million shares, representing 14.29% of its share capital.

In addition, it approved the application received from International Unions for Trade Co. to register and offer 247,000 shares, representing 13.00% of its share capital.

Alshehili Co.’s application to register and offer 500,000 shares, representing 20% of its share capital, was also greenlighted.

The CMA also approved the application received from Basma Adeem Medical Co. to register and offer 4 million shares, or 20% of its share capital.

The approvals are valid for six months. They shall be deemed cancelled if the offering and listings are not finalized within this period, the regulator said.

ITMAM Consulting provides business transformation, management consulting, and capacity-building services. The company is headquartered in Riyadh and Majed Al-Osaimi heads its board of directors.

Meanwhile, International Unions for Trade was established in 2012 and is active in the water, wastewater, and energy market throughout the Kingdom and the Middle East and North Africa (MENA) region. The company provides a range of products, including wrought iron, metal and non-metallic products in pipes, fittings, valves, supply, and smart metering solutions. Abdulaziz Al-Ghuwairi chairs the company’s board, while Mohammed Abu Haniya is the CEO.

Alshehili Co. was established in Riyadh in 1981. It owns a plant and maintenance center specialized in logistics and military industries. The company’s comprehensive product line includes refrigerated trucks, refrigerated trailers, curtain-side trailers, flatbed trailers, low-bed trailers, high-side trailers, truck insulation services, caravans, construction vehicles, troop carriers, armored vehicles, and armored glass.