Logo ofFirst Avenue Real Estate Development Co.
First Avenue Real Estate Development Co.will start trading on the Nomu-Parallel Market today, Oct. 16, under the symbol 9610 and ISIN code SA164G34M512, at SAR 6 per share. 
The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.
First Avenue offered 16.42 million shares to qualified investors, representing 8.01% of the company’s post-IPO capital, totaling SAR 205 million. The coverage ratio reached 740.1% of the total shares offered.
This is the 19th listing on Nomu in 2024, including three direct listing and 16 offerings to qualified investors.
Nomu witnessed IPOs of 35 companies last year, divided into six direct listings, 29 offerings to qualified investors, and one REIT.
First Avenue’s listing brings the total number of companies on Nomu to 97, in addition to Alwaha REIT Fund.
Company Info:
Headquartered in Riyadh, First Avenue is a closed joint-stock company established in 2017 as a limited liability company.
The company’s activities include investment in the real estate sector by developing and constructing residential and commercial units.
Company Profile
Company
First Avenue Real Estate Development Co.
Market
Nomu-Parallel Market
Core Activities
Real Estate
Capital Pre-IPO
SAR 188.58 mln
Number of Shares before IPO
188.58 mln
Capital Post-IPO
SAR 205 mln
Number of Shares after IPO
205 mln
Par Value
SAR 1/share
Logo ofFirst Avenue Real Estate Development Co.
First Avenue Real Estate Development Co.will start trading on the Nomu-Parallel Market today, Oct. 16, under the symbol 9610 and ISIN code SA164G34M512, at SAR 6 per share.
The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.
First Avenue offered 16.42 million shares to qualified investors, representing 8.01% of the company’s post-IPO capital, totaling SAR 205 million. The coverage ratio reached 740.1% of the total shares offered.
This is the 19th listing on Nomu in 2024, including three direct listing and 16 offerings to qualified investors.
Nomu witnessed IPOs of 35 companies last year, divided into six direct listings, 29 offerings to qualified investors, and one REIT.
First Avenue’s listing brings the total number of companies on Nomu to 97, in addition to Alwaha REIT Fund.
Company Info:
Headquartered in Riyadh, First Avenue is a closed joint-stock company established in 2017 as a limited liability company.
The company’s activities include investment in the real estate sector by developing and constructing residential and commercial units.
Company Profile
Company
First Avenue Real Estate Development Co.
Market
Nomu-Parallel Market
Core Activities
Real Estate
Capital Pre-IPO
SAR 188.58 mln
Number of Shares before IPO
188.58 mln
Capital Post-IPO
SAR 205 mln
Number of Shares after IPO
205 mln
Par Value
SAR 1/share
