Source: Zawya
Anmat Technology, a Saudi-based venture with business interests across several sectors, has announced its offer price for its initial public offering (IPO). The company will price the offer at SAR 9.5 (around $2.5) per share on the Saudi Stock Exchange’s Parallel Market, also referred to as Nomu.
At that price, Anmat plans to raise SAR 47.5 million by issuing 5 million new shares, comprising 11.63% of the company’s Capital after the IPO.
Beginning May 22, the subscription period for investors will open until May 27, 2025. According to the company, an investor must buy a minimum of 100 shares to participate and an investor can subscribe for a maximum of 2 million shares.
Darb Altujjar Financial Company (also known as Merchants Capital) is advising the IPO. Alinma Investment has been appointed the lead manager of the offering. Qualified investors will subscribe through Alinma’s online platform, or the digital platforms of other approved financial institutions.
Founded in Riyadh, Anmat Technology is engaged in multiple industries and provides IT solutions and telecommunications services to commercial clients, including network systems, software development, cloud storage, and cybersecurity. In addition to technology, Anmat also operates in the construction sector with architectural design and project management services.
Anmat is using this IPO to grow its business and continue with its offerings. The decision of the company to list on Nomu demonstrates both confidence in the Saudi market and readiness to attract qualified investors.
Nomu is a parallel market within the Saudi Stock Exchange, enabling smaller and fast-growing companies to list shares with fewer regulatory requirements than the main market. It aims to encourage private sector growth and to assist them in raising capital to grow their business.
This IPO is consistent with a larger trend in Saudi Arabia where companies are going public. The government and financial regulators have been making it easier for companies to be listed on the exchange and their intention is to support the capital market in the country and drive economic diversification efforts in line with Vision 2030.
With this offering, Anmat Technology joins a growing list of companies taking advantage of the opportunities found within the Nomu market. Anmat Technology’s Float has the potential to attract investor interest as investors seek promising and new businesses in the Kingdom.
