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The Saudi Exchange today welcomed the direct listing of Canadian Medical Center Co. (CMC), a healthcare services provider specialized in providing services to employees in the oil and gas sector, on Nomu - Parallel Market (Nomu). This direct listing was celebrated through a ceremony that was attended by Mohammed Al Rumaih, CEO of Saudi Exchange, and Khalid Al-Ammar, Chairman of CMC, alongside other leading board members.
Marking the occasion, Mohammed Al Rumaih, CEO of Saudi Exchange, said: “We are pleased to welcome CMC to the Nomu – Parallel Market and support its development in the healthcare sector, as it continues to provide innovative and bespoke medical services in Saudi Arabia. It is an ambitious organization that embodies high growth potential in one of the most important sectors in our economy, and I am confident that Nomu is the ideal market for CMC and any emerging SMEs alike that seek to continue their growth journey and develop their businesses further.”
CMC is the first medical company to be listed on Nomu – Parallel Market (Nomu). It issued 7,700,000 shares at a guiding price of SAR 39 per share in what was the sixth direct listing on Nomu after the Saudi Exchange became the first exchange in the GCC to allow for the direct placement of shares. A direct listing allows companies to place their shares without a public offering and is particularly useful for SMEs in that it streamlines the listing process, reducing time and costs.
Established in 2008, CMC provides specialised medical services through its three branches in Dammam, Al Khobar and Abqaiq. It has signed contracts with several leading oil and gas firms in the Kingdom of Saudi Arabia and was one of the first national companies licensed by Saudi Aramco to provide medical services at its project sites within the Kingdom.
