Riyadh – Mubasher: Al Kathiri Holding Company’s stock retreated by the maximum fluctuation rate in the first trading session on the Nomu-Parallel Market on Sunday.

By 1:42 pm Saudi time, Al Kathiri’s stock dropped 20% or SAR 6.2 to SAR 24.8, logging a trading value of SAR 6.4 million.

In the meantime, other parallel market stocks including Abo Moati and Baazeem fell to record lows.

By 1:53 pm Saudi time, Nomu slid 5.03% or 184.6 points to reach 3,483.7 points.

Earlier on Sunday, the Saudi Stock Exchange (Tadawul) announced the listing and the first day of trading on Al Kathiri Holding’s stock on Nomu under the ticker 9508.

The stock’s daily fluctuation rate was set at 20%, subject to Nomu’s regulations, Tadawul added in a statement.

On Tuesday, 6 June, FALCOM Financial Services closed the subscription on the company’s shares, after the Capital Market Authority (CMA) approved the prospectus to issue 819,000 of Al Kathiri’s shares, representing 26.1% of the company's capital.