{"id":82490,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/riyadh-steel-armah-sports-close-up-in-nomu-debuts\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"riyadh-steel-armah-sports-close-up-in-nomu-debuts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/12\/04\/riyadh-steel-armah-sports-close-up-in-nomu-debuts\/","title":{"rendered":"Riyadh Steel, Armah Sports close up in Nomu debuts"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>There are no signs that qualified investors are tiring of offerings on Nomu<\/strong>, the Tadawul\u2019s regulation-light parallel market for small- and medium-sized enterprises.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shares of Riyadh Steel rose 3% in their first day of trading on Nomu <\/strong><strong>yesterday<\/strong>, closing at SAR 17.5 a piece. The steel manufacturer listed 50 mn shares, good for a 20% stake. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/armahsports.com\/\" style=\"\" rel=\"noopener\">Armah Sports<\/a><\/strong><strong> made its SAE 137 mn debut on the parallel market Nomu on Thursday<\/strong>, with its shares closing up 1.8% at SAR 28.5 a piece. The company listed nearly 5 mn shares, good for a 15% stake. Saudi Fransi Capital quarterbacked the transaction as financial advisor, lead manager and bookrunner, STAT acted as legal counsel, PwC and Bakertilly were auditors, while Portas acted as market consultant, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/87.pdf\" style=\"\" rel=\"noopener\">prospectus (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nomu in numbers: <\/strong>With Armah\u2019s listing, the number of Nomu-listed companies has gone up to a total of 76, with 84% of them debuting only since January 2022, according to <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yfsmpujz\" style=\"\" rel=\"noopener\">Argaam<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other Nomu listings in the pipeline:<\/strong><\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=e280427078&e=8e5fca127e\" style=\"\" rel=\"noopener\">NUPCO<\/a>, Saudi\u2019s largest medical procurement firm;<\/li>\n<li>View United Real Estate Development (<a target=\"_blank\" href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=62cf756696&e=8e5fca127e\" style=\"\" rel=\"noopener\">prospectus, pdf<\/a>).<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why it matters:<\/strong> The parallel market has been on a tear this fall, seeing high demand from qualified investors for a run of IPOs. Yes, they\u2019re smaller. And yes, they\u2019re open only to qualified investors. But the thesis is that Nomu companies will learn the ins and outs of being a public institution as the best of them grow \u2014 and ultimately make the leap to the main market, as the parent company of homegrown burger chain Burgerizzr did last month and as Riyadh Cement will do tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors cheer latest listings on Tadawul\u2019s parallel market<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[445,10,29,369,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82490","post","type-post","status-publish","format-standard","hentry","category-ipo-watch","tag-armah-sports","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-riyadh-steel","wpautop","entry"],"acf":{"mongo_id":"2cb8f523-f451-4b24-9029-80e3bf3c814d","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Riyadh Steel, Armah Sports close up in Nomu debuts","related_issue":[82481],"teaser":"Investors cheer latest listings on Tadawul\u2019s parallel market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.78d9c5e0-874b-4153-8b5d-81dd68049364.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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