“Armas” announces the appointment of “Musharaka Capital” as a financial advisor to offer its shares in the parallel market “Nomu”
13 March 2017
Armas Limited Company has announced the appointment of Musharaka Financial Company as its financial advisor for the offering and listing of its shares on the Nomu Parallel Market.
Musharaka Financial Company stated that it will reach out to qualified investors interested in investing in Armas Limited’s shares once the company secures the necessary regulatory approvals to proceed with its listing on Nomu, in accordance with the Capital Market Authority’s rules and regulations.
Founded 25 years ago, Armas Limited specializes in designing, manufacturing, and supplying solid surfaces for kitchens, washrooms, and restaurants under the Meromix brand. It also provides wooden kitchens for residential projects and furnished apartments through German Kitchens. Additionally, the company offers wardrobes and storage systems under an exclusive licensing agreement with Komandor International, as well as hotel furniture and fittings.
The company has expanded across Saudi Arabia, establishing showrooms in major cities. In 2014, it secured an exclusive agency agreement with Komandor International for the Saudi market.
In 2013, Armas Limited undertook a corporate restructuring, focusing on enhancing its management structure, improving its operational model, and strengthening its technical workforce. These efforts have positively impacted the company’s financial performance, with last year’s results surpassing previous years.