Aid agencies sound the alarm as Israel's Gaza blockade enters a second month    Asian markets plunge as Trump's global tariff turmoil deepens    Trump's crackdown on university protests is casting a long shadow    Le Pen vows to fight conviction but large-scale protests fail to materialize    Al-Jasser: work is underway to restructure and develop aviation infrastructure    KAU to host Digital Communication Conference in Jeddah from April 29 to May 1    TGA: Riyadh tops with 45% of 290 million orders delivered in 2024    Diriyah to host third IMFC Deputies meeting under Saudi chairmanship    15,135 decisions taken to penalize Saudis and expats for violations    Saudi-European Parliamentary Friendship Committee discusses cooperation during Strasbourg visit    Saudi stock market loses half a trillion riyals, with Aramco's losses amounting to SR340 billion Tariff turmoil rattles Gulf markets    Benzema rescues Al Ittihad with stoppage-time equalizer in thrilling Jeddah Derby    Al Qadsiah and Al Ettifaq share spoils in tense Eastern Derby stalemate    Moussa Diaby praises Al Ittihad's resilience after Jeddah Derby draw "When you can't win, you take a point"    Saudi assistant referee Iman Al Madani joins AFC elite list for 2025    Riyadh Art Week launches with over 50 galleries showcasing global artistic dialogue    Turki Al-Sheikh announces five new Saudi film projects to be produced in Riyadh    Saudi Ministry of Education to showcase innovations at 2025 Geneva International Exhibition    Ed Sheeran weaves Persian music into new song, Azizam    Veteran Bollywood actor Manoj Kumar dies at 87    Screen time in bed linked to insomnia, study finds    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Abo Moati for Stationery set to enter Saudi Parallel Market
Published in The Saudi Gazette on 26 - 02 - 2017

ABDULLAH Saad Abo Moati for Stationery Co. is ready to be a public company after finishing the IPO last week. Falcom for Financial Services, the Financial Advisor and the Offering Manager for Abo Moati Co., has announced the end of IPO period with a big success, with 290% of subscription coverage by eligible investors. About SR139 million was paid for 3.2 illion stocks for SR15 per share — the maximum price for offering by eligible investors, which includes individuals, companies, investment funds, and private portfolios.
The Capital Market Authority has approved on Jan. 11, 2017 to offer 20% of Abo Moati Co. capital and the IPO will be allocated in the company and all listed companies in the Parallel Market to the eligible investors.
Maaz Al-Khasawneh, general manager of Falcom Financial Services, said the results of the IPO became apparent after receiving the application, the completion of the settlement process, and the audit is complete. He lauded the support of the Capital Market Authority and Tadawul. It is said that the Parallel Market will be launched today (Feb. 26, 2017).
The chairman of the company Dr. Saad Abo Moati said the company›s capital is SR160 million where 3.2 million shares were offered in IPO. This amount represents 20% of the company's capital. In addition, Dr. Saad said the company operates in stationaries, school and office supplies, education supplies, art material, gifts and wrapping, paper supplies, printers, and inks in wholesale and retail.
Moreover, Dr. Saad, praised the effort made by Falcom for the success of the IPO.
The company believes that the IPO would increase the growth of the company to move to the next level. He added that the stability of the economic, security and the evolution of technology are some of the factors for the sustained economic growth of Saudi Arabia. The size of the stationery and office supplies sector exceeds SR10 billion yearly.


Clic here to read the story from its source.