Riyadh: The Saudi Exchange celebrated the listing of Horizon Food Company on Nomu – Paralell Market. The listing ceremony was attended by Mr. Nayef Saleh Alathel, Saudi Exchange Chief of Listing and Mr. Alwaleed Khalid Alshathre, Chairman of Horizon Food Company.
Speaking on the occasion, Mr. Nayef Alathel, Chief of Listing at Saudi Exchange said, “Today, we celebrate yet another successful listing in the food and beverage sector, which is growing rapidly in the Kingdom. The addition of Horizon Food Company to the market offers investors another opportunity to diversify their portfolio and participate in the growth of this dynamic industry. We would like to congratulate the management of Horizon Food, and look forward to seeing their journey post listing.”
Mr. Alwaleed Alshathre, Chairman of Horizon Food Company, commented, “This accomplishment is a significant milestone for Horizon Food Company. We have been working tirelessly to enhance our product offerings, optimize our operations, and expand our geographical presence across the Kingdom. The market listing's success is a result of our team's diligence and hard work. We are excited to embark on this new chapter as a listed entity and look forward to expanding our contribution to the development of the food sector in Saudi Arabia.”
Nomu is the Saudi Exchange’s parallel equity market, which acts as an alternative platform for companies seeking to expand and go public. Nomu aims to provide an opportunity for small and medium-sized companies to diversify their sources of funding and develop their businesses and activities by offering lighter listing requirements in terms of market capitalization, number of shares offered and minimum number of shareholders. Nomu is open only to qualified investors.
Horizon Food Company offered 1,600,000 shares, representing 20% of its share capital at the offering price of SAR 37 per share.
About Saudi Exchange
Saudi Exchange is the authorized entity in the Kingdom of Saudi Arabia to act as the Kingdom’s securities exchange (the Exchange), listing and trading in securities. The Saudi stock market is one of the largest stock exchanges among the 67 members of the World Federation of Exchanges, the dominant market in the Gulf Cooperation Council (GCC) and the 3rd largest stock market amongst its emerging market peers. For more information, see: www.saudiexchange.sa
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