Aqaseem Factory shares soars 30% after market debut

RIYADH: Shares of Saudi Aqaseem Factory for Chemicals and Plastics Co. soared 30 percent after its debut on the parallel market Nomu on Wednesday.

The company saw its shares close at SR62.40 ($16.64), against an initial public offering price of SR48, according to the Saudi exchange data.

The firm received Capital Market Authority approval on March 21 to register its shares for direct listing.

The motor oil and lubricants company was established in 1997.