The Saudi Exchange has celebrated the listing of International Human Resources Company, also known as Aldawliah or iHR, on Nomu, its Parallel Market.
iHR had floated 500,000 shares, representing 20% of its share capital, at an offer price of SR34 ($9.05) per share.
iHR provides recruitment services for the Saudi market. The ceremony was attended by Nayef Saleh Alathel, Chief of Listing at Saudi Exchange and Ali Ammar Alharbi, Managing Director and CEO of iHR.
Leader among emerging markets
Alathel said: “The Saudi Exchange is pleased to welcome International Human Resources Company to Nomu – Parallel Market. Today’s IPO reinforces our position as a leader among emerging markets and as the listing venue of choice for local and regional issuers. We are pleased to offer different routes to list, and will continue to work to create an advanced capital market in line with the directives of the Financial Sector Development Programme under Vision 2030. We look forward to following International Human Resources Company’s success as a listed entity and congratulate the management on this milestone today.”
“Our goal is to support the realisation of Vision 2030 by creating recruitment programmes and tools to help businesses attract high quality talent, while increasing levels of Saudisation. Strong talent acquisition and development is essential for the sustainable development of the kingdom’s economy, as our IPO today will support delivering these goals. We would like to thank our employees, partners, and members of the board, as we look forward to reporting on progress in due course,” said Alharbi.
Nomu is the Saudi Exchange’s parallel 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 capitalisation, number of shares offered and minimum number of shareholders. Nomu is open only to qualified investors.-- TradeArabia News Service
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