The Tadawul has set specific trading conditions for Naas Petrol's shares, including daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively. This structure is designed to provide stability and mitigate extreme volatility during the early trading days.
Naas Petrol, a key player in the petroleum products sector, reported net profits of SAR 7.84 million for the fiscal year ending December 31, 2023, a slight increase from the SAR 7.47 million recorded in the previous year. However, the company experienced a dip in net sales, which dropped to SAR 69.91 million from SAR 79.84 million year-over-year.
The move to list on Nomu aligns with Naas Petrol's broader strategic goals of expanding its market presence and accessing new capital to fuel future growth. The company's leadership has expressed confidence that this listing will enhance its visibility and offer more opportunities for strategic partnerships and investments.
Naas Petrol's entry into the public market is expected to attract considerable interest from investors, particularly given the firm's established position within the Saudi industrial sector. The company's financial performance and growth prospects will be closely watched as it navigates the public market landscape.
The Saudi Parallel Market (Nomu) itself has been gaining traction among smaller and medium-sized enterprises (SMEs) looking to raise capital without the stringent requirements of the main market. Naas Petrol's listing is seen as a positive development for the Nomu market, which continues to grow as an essential component of Saudi Arabia's economic diversification efforts.
Investors and market analysts are expected to monitor Naas Petrol's performance closely in the coming days, evaluating its potential as a viable investment option within the region's dynamic energy sector.