Cherry debuts on TASI at SAR 28/share

Logo of Cherry Trading Co. 

Cherry Trading Co. began trading on the Main Market (TASI) today, Dec. 1, under the symbol 4265 and ISIN SA16DGE22KH2, after listing at SAR 28 per share.

The stock will be subject to daily and static price fluctuation limits of ±30% and ±10%, respectively, for the first three sessions. From the fourth trading day onward, daily limits will revert to ±10% and the static limits will be removed.

Cherry is the 12th listing on TASI in 2025 after Almoosa Health Co. on Jan. 7, Nice One Beauty Digital Marketing Co. on Jan. 8, and Derayah Financial Co. on March 10. This is in addition to Arabian Company for Agricultural & Industrial Investments (Entaj) on March 17, Umm Al Qura for Development and Construction Co. (UQDC) on March 24, United Carton Industries Co. (UCIC) on May 27, flynas on June 18, and Specialized Medical Co. (SMC) on June 25. Sport Clubs Co. floated its shares in July, Marketing Home Group for Trading Co. (MHG) on Sept. 2, and Dar Al Majed Real Estate Co. (Al Majdiah) on Sept. 10.

Thirteen companies listed on TASI in 2024, in addition to Alistithmar AREIC Diversified REIT Fund.

The listing brings the number of Tadawul-listed companies to 244, excluding 19 REITs.

Cherry offered 9 million shares, representing 30% of its SAR 300 million capital. The retail tranche was 647% oversubscribed, while the institutional book was covered 85.6 times. Retail investors received a minimum of 10 shares each, with remaining shares allocated pro rata at an average factor of 9.1%.

Key background

Cherry Trading was founded in 1980 as a sole proprietorship by Mohammed Abdullah Turki Al-Dhayan. It later became a limited liability company and was converted into a closed joint-stock company in Riyadh in 2020.

The company operates in vehicle leasing and sales, with long-term leasing as its largest revenue source, serving corporate clients, government entities, and mid-to-large enterprises. It also offers short-term rentals and sells used vehicles from its fleet through showrooms, digital platforms, and direct corporate sales.