Alwasail Industrial debuts on TASI at SAR 3.38/share today

Logo of Alwasail Industrial Co.

Shares of Alwasail Industrial Co. (symbol: 4148) began trading today, Jan. 21, on Tadawul All Share Index (TASI) under the capital goods sector, with a daily price fluctuation limit of ±10%.

Tadawul has approved the company’s transfer from the Nomu-Parallel Market to TASI on Dec. 31, 2025.

Alwasail’s capital stands at SAR 250 million, divided into 250 million shares with a nominal value of SAR 1 each. The stock last traded at SAR 3.38 on Nomu, which also served as its opening price on TASI today.

With the listing of Alwasail Industrial and Nofoth Food Products Co. today, the number of companies that have moved from Nomu to TASI has risen to 21.

As a result, the total number of companies listed on TASI increased to 249, excluding 19 listed REITs, while the number of companies listed on Nomu declined to 124, excluding Alwaha REIT Fund.

Key background

Alwasail Industrial was established as a sole proprietorship in 1980 under the name Alwasail Agricultural Establishment in Buraidah. In 2006, it was converted into a closed joint-stock company and renamed Alwasail Industrial Co. The company’s capital was increased to SAR 250 million in June 2013.

The company’s core business is the production of polyethylene pipes, fittings, and accessories used across a wide range of applications, including irrigation systems, water and sewage networks, gas, electricity, and telecommunications pipelines, in addition to various industrial uses. It also manufactures rubber products, including pipe gaskets, flat sponge thermal insulators, and circular rings for pipe insulation.

Alwasail was listed on Nomu on Jan. 18, 2022, offering 2.5 million shares, representing 10% of its capital, with the final offer price set at SAR 19 per share.

In November 2023, the company carried out a stock split, reducing the nominal value of each share from SAR 10 to SAR 1.

Transition Details

Companies moved from Nomu to TASI

Transition requirements

Capital Market Authority (CMA) rules set several conditions for companies seeking to transfer from Nomu to TASI. These include submitting the application only after two years from listing on Nomu, meeting all TASI listing requirements except market capitalization, and maintaining a minimum average market capitalization of SAR 200 million during the six months preceding the application.

The rules also require issuers to disclose their board report publicly before submitting the application, obtain board approval for the transition and disclose it before the next trading session, and formally submit the request to Tadawul with a public announcement.

Trading in the company’s shares is suspended for no more than five trading sessions until the transition procedures are completed, after which the shares begin trading on the Main Market.