Riyadh – Mubasher: Neft Alsharq Company for Chemical Industries is set to begin the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) on Tuesday, 25 June.

The Saudi firm plans to float 5 million shares under the symbol 9605 after obtaining the approval of the Capital Market Authority (CMA) last March, according to a bourse disclosure.

Tadawul indicated that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively.

As of 31 December 2023, Neft Alsharq recorded an annual rise in net profit after tax to SAR 4.39 million, compared to SAR 3.64 million.

Sales climbed to SAR 62.04 million last year from SAR 56.20 million in 2022.