Shmoh Almadi sets Nomu IPO price at SAR 22/shr

Logo of Shmoh Almadi Co.

Shmoh Almadi Co. set the IPO price at SAR 22 each, Value Capital, the IPO financial advisor and lead manager said in a statement to Tadawul.

Qualified investors’ subscription period will run for eight working days from Dec. 24 to Dec. 31, 2024. The company will offer 1.4 million shares, or 14.89% of post-IPO capital in an initial public offering (IPO) on Nomu- Parallel Market.

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The offered shares represent 17.5% of pre-IPO capital of SAR 40 million (14.89% of post-IPO capital). The pre-IPO capital is divided into 8 million shares at a par value of SAR 5 each.

Shmoh Almadi was established as a sole proprietorship in Riyadh in 2006 and later converted into a shareholding company.

The company's activities, as stated in its commercial register, include the manufacture of bread and its products by automated bakeries; biscuits of all kinds; popular food bread; and raw pastry sheets including matai.

This is in addition to the manufacture of popular and oriental sweets of all kinds, land transportation of goods, and transportation of refrigerated and frozen goods. The company's activities also include refrigerated food stores, storage in silos of grain, flour, and agricultural products, as well as refrigerated and dry food stores, retail sale of bakery products and sweets.