RIYADH: Saudi home appliance distributor Amwaj International Co. will start trading on Saudi Arabia’s stock exchange on June 16, Tadawul said in a statement.
Amwaj raised SR43.2 million ($12 million) in proceeds from an initial public offering, amidst plans to list a 10-percent stake on the parallel market Nomu.
The offering saw strong demand from investors, recording 976 percent oversubscription in the book-building period that ended May 25.
Riyadh-based Amwaj International is the commercial unit of Zahran Holding Co. It sells and distributes electronic and home appliances.
