RIYADH: Rawasi Albina Investment Co., a construction firm serving major companies including telecom giant stc and Saudi Electricity Co., will list its shares on the Kingdom’s stock market on Aug. 18.
The price guidance for a direct listing on Nomu was set at SR40 ($11), where the opening price will be based on supply and demand for the stock, according to a bourse filing.
Established in 2008, Riyadh-headquartered Rawasi Albina provides infrastructure works for telecom, electricity, and water projects.
Along with stc and Saudi Electricity, among its major clients are Ericsson, Huawei Technologies Co., and Nokia Corp.
Rawasi Albina will mark the Saudi Exchange’s third listing of the week, after Naqi Water Co. and Saudi Networkers Services Co.
