Saudi-based glass maker’s IPO price set at $21 per share

RIYADH: Saudi Arabian glass maker Raoom Trading Co.’s initial public offering price has been set at SR80 ($21.3) per share.

This comes as the firm plans to list on Saudi Arabia’s parallel market, Nomu.

The offering period will start on Jan. 30 and run through Feb. 3, 2022, the financial advisor of the offer, Wasata Capital, said in a bourse statement.

Earlier, Raoom Trading had announced the prospectus for floating one million shares, representing 20 percent of the company’s share capital.

Established in 1992, Raoom Trading is based in the Kingdom’s city of Buraydah.