Neft Alsharq to debut on Nomu on June 25

Logo of Neft Alsharq Company for Chemical Industries

Neft Alsharq Co. for Chemical Industries will start trading on the Nomu-Parallel Market on June 25 under the symbol 9605 and ISIN code SA16301KM2H2.

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

Meanwhile, the Securities Depository Center Co. (Edaa) announced depositing the subscribed shares of Neft Alsharq into the accounts of eligible shareholders today, June 23.

Earlier, the company floated five million shares on Nomu, representing 20% of its SAR 25 million capital, divided into 25 million shares. The offering was 489.05% subscribed at SAR 3.60 per share, Argaam's data showed.