Watani Iron Steel Co. logo
Watani Iron Steel Co. announced today, Jan. 17, 2021, the registration document for the direct listing of its shares on Nomu Parallel Market.
The Capital Market Authority (CMA) approved on Dec. 30, 2020, the registration of Watani Iron Steel Co.’s shares for the purpose of direct listing on Nomu. The trading of the shares will be confined to qualified investors as stipulated in the CMA regulations and rules.
According to the company's document, potential qualified investors who wish to invest in shares upon completing the registration and debuting on Nomu Parallel Market will be treated based on the investment decision that relied on the information included in the document.
Established in August, 2008, the company's is capitalized at SAR 121.1 million, divided into 12.11 million ordinary shares.
It hired FALCOM Financial Services as a financial advisor for the share listing.
The company's annual production capacity stands at 280,000 tons of billet and 320,000 tons of rebars.
The company produces steel rebars using the billet produced at its factory. It's operations are divided between two units: one for producing billet and the other for steel rebars.
The company manages its operations via tis administration in Riyadh, on Kharj Road, south of the Third Industrial City.
Najma Axia Trading Ltd is the company's largest shareholder, with a 67.57% stake.
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Shareholders of Watani Steel |
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Shareholders |
Before Direct Listing |
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No. of Shares (mln) |
Ownership |
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Abdul Karim Al-Rajhi |
5.44 |
44.96% |
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Youssef Al-Turaif |
2.42 |
19.98% |
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Mishaal Abdul Karim Al-Rajhi |
0.55 |
4.55% |
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Mishary Abdul Karim Al-Rajhi |
0.54 |
4.49% |
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Mounria Ibrahim Al-Thunayan |
0.48 |
3.99% |
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Sarah Zamil Al-Dhakir |
0.14 |
1.12% |
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Public (55 shareholders) |
2.53 |
20.88% |
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Total |
12.11 |
100% |
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Company Profile |
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Company |
Watani Iron Steel Co. |
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Market |
Nomu Parallel Market |
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Field of Activity |
Production of billet and iron rebars |
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Status |
Existing |
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Capital |
SAR 121.1 million |
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Direct Listing Information |
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No. of Shares |
12.11 million |
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Share Par Value |
SAR 10 |
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Price guidance |
SAR 37 |
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Method of Setting Opening Price |
The share opening price is set based on demand and supply, by means of the opening auction mechanism. During such a period, investors can enter buy/sell orders, and thus the trading system finds the fair price with which orders are executed after being matched during the auction period. The execution price will be the opening price with an allowed daily fluctuation ratio of 30%. The price guidance is considered a reference only for the fair market value, which is the debut price for the first day only. |
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Qualified Investors |
- Current shareholders (except for owners of 5% or more for which the lock-up applies.
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Additional Information |
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Financial Advisor |
FALCOM Financial Services |
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