Raoom appoints Wasatah Capital as financial advisor for Nomu IPO


Raoom Trading Co. has appointed Wasatah Capital as financial advisor for its planned initial public offering (IPO) on the Nomu Parallel Market, Wasatah said in a statement.


The company is awaiting the Capital Market Authority’s (CMA) approval and finalizing the other regulatory procedures required for the listing, ahead of addressing Qualified Investors according to the CMA’s regulations.


Raoom was established in 1988 as Raoom Trading Corp with SAR 4 million in capital. It was converted into a limited liability company in 2014, then into a closed joint stock company with SAR 115 million in capital.


The Qassim-based Raoom is a major importer and distributor of glass, polycarbonate and acrylic inside and outside the Kingdom.


Chairman of Raoom Mr. Abdulaziz Al Humaid and Chief Executive Officer of Wasatah Capital Mr. Abdullah Al Rasheed.