08 Feb, 2021
Al-Naba Al-Naqi for Trading Co. (NAQI) announced appointing Musharaka Capital as a financial advisor for its planned direct listing on the Parallel Market (Nomu)
Musharaka Capital is working on completing regulatory requirements, and obtaining the approvals of the Capital Market Authority (CMA) and Saudi Stock Exchange Co. (Tadawul) for NAQI’s listing on Nomu.
NAQI is a promising local company operating in the water purification and cooling field. NAQI aims to lead the market and transfer the reverse osmosis (RO) technology to Saudi Arabia then the Gulf and Middle East markets. In a short time, the company has become one of the top market competitors thanks to owning the biggest retail customer base across the Kingdom. NAQI offers services and products in more than 150 cities and provinces across the Kingdom. The company also reported solid growth and profitability rates, driven by its keenness to provide the best solutions and latest products, while maintaining the best customer service practices.
The company’s business model ensures its sustainability and generation of income in the medium and long term, through providing periodical maintenance services and replacement of water purification filters and cooling systems for its customers.
“NAQI has several expansion plans in the coming period, as it seeks to expand its operations and customer base in the local market, access new markets in the Gulf and offer a new array of products in the water solutions sector, including the spray and fog systems, central water desalination stations and enterprise desalination plants,” said General Manager Mishal Al-Harthi.
“The Riyadh-based company always seeks to maintain growth rates and offer its clients unique experience during and after sale,” Al-Harthi added.
Ibrahim Al-Assaf, CEO of Musharaka Capital, highlighted the privileges of direct listing, for issuers and investors, noting that it is deemed as a key alternative for corporates that want to go public with less requirements compared to the traditional phases of initial public offerings; thus, reducing the listing time. Al-Assaf added that the direct listing allows small and medium-sized enterprises (SMEs) to enhance their contribution to national economy, and provides attractive, fairly-priced opportunities for investors in various sectors.
NAQI is one of the Kingdom’s prominent operators in this field, Al-Assaf pointed out, adding that the water desalination and purification sector will be one of the highly promising industries going forward, especially amid increased awareness about the use of desalination systems and stations and awareness about their positive impacts on health, economic and environmental levels.
Established in 2013, Musharaka Capital is a CMA licensed boutique investment bank that has the permission to deal as a principal, provide investment funds management, discretionary portfolio management, arranging, advisory and securities custody services.
Musharaka Capital provides high-end innovative investment products and services, including arranging finance for projects and businesses, providing advisory services for capital markets and laying out strategies, such as capital increase, and M&As.