AI Summary
Tadawul trading screen
Shares of Obeikan Glass Co. and Saudi Azm for Communication and Information Technology Co. are set to debut on the Main Market (TASI) today, July 21.
Obeikan Glass will trade under the symbol 4145 in the Capital Goods sector, while Saudi Azm will be listed under 7211 in the Software and IT Services sector.
Both stocks will be subject to a 10% daily price fluctuation limit.
According to Argaam data, Tadawul approved on June 29 the requests from both companies to move from the Nomu-Parallel Market to TASI.
Obeikan Glass has a capital of SAR 320 million, divided into 32 million shares at a nominal value of SAR 10. Its last trading price on Nomu was SAR 38, which will serve as the opening price on TASI.
Saudi Azm has a capital of SAR 30 million, comprising 60 million shares at a par value of SAR 0.5. Its last Nomu trading price was SAR 30.24.
With these additions, the number of companies listed on TASI has risen to 239, excluding 19 real estate investment trusts (REITs). The number of firms on Nomu has fallen to 121, excluding Alwaha REIT Fund.
Key background
Founded in Riyadh as a closed joint stock company, Obeikan Glass was established under its Articles of Association dated Dec. 23, 2006, a ministerial resolution dated Sept. 9, 2007, and the minutes of the constituent assembly dated November 2007.
The company manufactures and sells clear float glass and safety glass. It was directly listed on Nomu on Feb. 7, 2022, at a reference price of SAR 68 per share.
In November 2023, the company raised its capital from SAR 240 million to SAR 320 million through the distribution of bonus shares.
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Obeikan Glass Transition Details |
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|
Item |
Nomu |
TASI |
|
Capital (SAR mln) |
240 |
320 |
|
Number of Shares (mln) |
24 |
32 |
|
Par Value per Share (SAR) |
10 |
10 |
|
Sector |
Software & IT Services |
Software & IT Services |
|
Daily Fluctuation Limit |
30% |
10% |
|
Listing Price (SAR) |
68 |
38 |
|
Share Trading Eligibility |
Qualified investors |
Any Saudi or foreign person, entity, institution, or fund authorized by the Capital Market Law and its regulations to own and trade securities |
Saudi Azm, a limited liability company founded in Riyadh in 2017, offers management advisory services, computer repair and maintenance, and sells both wired and wireless devices.
The company was listed on Nomu on March 1, 2022, with a reference price of SAR 70 per share.
In June 2023, it executed a stock split, reducing the par value per share from SAR 10 to SAR 0.5.
|
Saudi Azm Transition Details |
||
|
Item |
Nomu |
TASI |
|
Capital (SAR mln) |
30 |
30 |
|
Number of Shares (mln) |
3 |
60 |
|
Par Value per Share (SAR) |
10 |
0.5 |
|
Sector |
Capital Goods |
Capital Goods |
|
Daily Fluctuation Limit |
30% |
10% |
|
Listing Price (SAR) |
70 |
30.24 |
|
Share Trading Eligibility |
Qualified investors |
Any Saudi or foreign person, entity, institution, or fund authorized by the Capital Market Law and its regulations to own and trade securities |
The following table details companies that have transitioned from Nomu to TASI:
|
Details of Companies’ Transition to Main Market |
||||
|
Company |
Board Approval |
Transfer Application |
Official Approval |
Listing Shares on TASI |
|
Al Kathiri |
Oct. 9, 2019 |
Oct. 15, 2019 |
Oct. 28, 2019 |
Nov. 3, 2019 |
|
Thob Al Aseel |
Oct. 6, 2019 |
Oct. 16, 2019 |
Nov. 4, 2019 |
Nov. 10, 2019 |
|
Abo Moati |
Oct. 6, 2019 |
Oct. 16, 2019 |
Nov. 4, 2019 |
Nov. 11, 2019 |
|
Raydan |
Oct. 8, 2019 |
Oct. 29, 2019 |
Nov. 17, 2019 |
Nov. 21, 2019 |
|
Baazeem |
Oct. 7, 2019 |
Nov. 14, 2019 |
Nov. 28, 2019 |
Dec. 4, 2019 |
|
Arab Sea |
Oct. 9, 2019 |
March 17, 2020 |
April 12, 2020 |
April 15, 2020 |
|
Al-Omran |
Feb. 16, 2020 |
June 15, 2020 |
July 15, 2020 |
July 21, 2020 |
|
Sadr |
Sept. 27, 2020 |
Nov. 2, 2020 |
Dec. 3, 2020 |
Dec. 10, 2020 |
|
Development Works Food |
Sept. 12, 2021 |
Nov. 4, 2021 |
Nov. 17, 2021 |
Nov. 23, 2021 |
|
Sumou |
May 15, 2022 |
May 24, 2023 |
Aug. 20, 2023 |
Sept. 7, 2023 |
|
Riyadh Cement |
June 29, 2022 |
June 18, 2023 |
Nov. 14, 2023 |
Dec. 5, 2023 |
|
Burgerizzr |
Oct. 12, 2023 |
June 13, 2024 |
Oct. 13, 2024 |
Nov. 4, 2024 |
|
Banan |
July 4, 2023 |
June 4, 2024 |
Nov. 18, 2024 |
Dec. 9, 2024 |
|
Jahez |
March 19, 2024 |
July 7, 2024 |
Nov. 18, 2024 |
Dec. 10, 2024 |
|
Raoom |
Dec. 14, 2023 |
June 11, 2024 |
Jan. 6, 2025 |
Jan. 27, 2025 |
|
Saudi Azm |
April 18, 2025 |
May 27, 2025 |
June 29, 2025 |
July 11, 2025 |
|
Obeikan Glass |
Dec. 27, 2023 |
May 23, 2025 |
June 29, 2025 |
July 11, 2025 |
Regulations for Nomu-to-TASI transfers
Under the amended listing rules issued by the Capital Market Authority (CMA), companies seeking to transfer from the Nomu-Parallel Market to the Main Market (TASI) must meet several conditions. They are required to remain listed on Nomu for a minimum of two calendar years before applying for the move.
Additionally, the average market value of their shares must be at least SAR 200 million during the six months leading up to the application. Before submitting the request, companies must publicly disclose a board report containing all relevant information and secure the board of directors’ approval for the transfer. They are also obligated to announce the application to the public at the time of submission.
Trading in the company’s shares may be suspended for up to five sessions ahead of its debut on the Main Market.
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