Saudi Arabian healthcare firm Al-Modawat Specialised Medical Co. is set to list on the stock market next week, the Saudi Stock Exchange (Tadawul) confirmed on Tuesday.

On Sunday, February 25, the company will start trading on the Nomu – Parallel Market with the symbol 9594 and ISIN Code SA161054LT11.

Last September 2023, the Capital Market Authority approved the company’s application to float 475,000 shares, representing 20% of its share capital, in the parallel market.

It concluded its initial public offering (IPO) on February 5, reporting a coverage of 135.75% of the total shares. The offer price was set at SAR 111 ($29.5) per share.

(Writing by Cleofe Maceda; editing by Seban Scaria)