Three Saudi corporations including Riyadh-based Advanced International Company are expected to go public, Zawya news outlet reports, citing the kingdom’s stock market.
Advanced International Company, specializing in providing technical and security solutions will offer 400,000 shares.
Alwasail Industrial Co., the second, offered 2.5 million shares. Based in Buraydah, the firm manufactures and supplies polyethylene pipes and parts, irrigation equipment, communication channels, drinking water pipes and fittings, gas and oil pipes and fittings, and rubber products.
Both will be listed on Nomu, the Kingdom’s parallel equity market with lighter listing requirements that serves as an alternative platform for companies to go public, Zawya notes. The third is Scientific and Medical Equipment House (SMEH). Also based in capital Riyadh, the company offered 6 million shares, accounting for 30 per cent of the company, to be listed on main market TASI.
SMEH according to its LinkedIn account, is one of the companies in the Kingdom specialized in health services in a comprehensive manner.
Three Saudi private firms including Advanced International Company to go public
