Logo of Academy of Learning Co.
The listing and trading of Academy of Learning (AOL)’s shares will start on Nomu - Parallel Market today, July 18, under the symbol 9541 and ISIN Code SA15J0K4L2H7.
AOL’s shares will trade with daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively.
On May 25, the Capital Market Authority (CMA) approved the application submitted by Academy of Learning for the direct listing on Nomu.
On May 30, AOL announced the registration document for listing its shares on Nomu and set the price guidance at SAR 40 per share.
This is the 19th listing on Nomu this year, including nine direct listings and 10 listings through offering shares to qualified investors.
Company Info
Established in 2004 in Dammam as a sole proprietorship, AOL was transformed into a limited liability company in 2015, before converting into a closed joint stock company in June 2021, whose current capital stands at SAR 60 million.
AOL operates in the Saudi education and training sector through 12 institutes across six centers in Dammam, Al-Khobar, Al-Ahsa, Al-Jubail and Qatif.
Its core business targets higher education institutes, administration training institutes, and the wholesale trade of computers and related accessories, as well as selling printers and inks.
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Company Profile |
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Company |
Academy of Learning (AOL) |
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Market |
Nomu - Parallel Market |
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Core Activities |
Higher education institutes, administration training institutes, and the wholesale trade of computers and related accessories. |
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Status |
Active |
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Capital |
SAR 60 mln |
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Direct Listing Highlights |
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Number of Shares |
6 mln |
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Share Par Value |
SAR 10 |
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Share Price Guidance upon Listing |
SAR 40 |
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Method of Setting Opening Price |
The opening stock price shall be set based on the offer and demand for the stock, via a pre-open session during which investors can place buy/sell orders. The trading system sets the fair price, based on which orders are executed after being matched during the auction period. The execution price will be the opening price, with a +/-30% daily fluctuation ratio.
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 those holding 5% or more of the company capital, to whom the lock-up period rules shall apply).
- Qualified investors categories. |
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Additional Information |
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Company Shareholders |
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Shareholders |
Before Direct Listing |
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Number of Shares (’000) |
Ownership |
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Khaled Mohammed Al-Dosari* |
1800.1 |
30.00% |
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Filwa Najd Real Estate Co. |
605.6 |
10.09% |
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Mohammed Saleh Al-Jahuri |
1.0 |
0.02% |
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Hind Nasser Al-Benali |
1.0 |
0.02% |
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Fawziya Musleh Al-Maliki |
1.0 |
0.02% |
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Entisar Saad Al-Qurain |
1.0 |
0.02% |
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Najlaa Ibrahim Al-Jahuri |
1.0 |
0.02% |
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Najlaa Abdulrahman Al-Dukheil |
1.0 |
0.02% |
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Shoq Jamil Al-Ghamdi |
1.0 |
0.02% |
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Sarah Saad Othman Al Hudaib |
1.0 |
0.02% |
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Ibtihal Abdulghani Reda |
1.0 |
0.02% |
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The public (70 shareholders) |
3586.3 |
59.77% |
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Total |
6000.0 |
100.00% |
*25,000 shares of the equity holder shall be deducted as fees due to the financial advisor, the title of which shall be transferred to Aldukheil Financial Group following the end of the shareholder’s lock-up period.
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