Obeikan Glass, Saudi Azm to debut on TASI today
The Saudi Exchange (Tadawul) said shares of Obeikan Glass Co. will list in the Main Market (TASI) today, trading with the symbol 4145 in the Capital Goods sector.
Moreover, shares of Saudi Azm for Communication and Information Technology Co. will also debut on TASI today, with the symbol 7211 in the Software & Services sector.
Obeikan Glass and Saudi Azm's stock prices will trade at a 10% daily fluctuation limit.
According to data available with Argaam, Tadawul approved on June 29 the requests of both Obeikan Glass and Saudi Azm 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 per share. The stock's last price on Nomu was SAR 38, which will be its opening price on TASI.
Meanwhile, Saudi Azm's capital stands at SAR 30 million, with 60 million shares, at a par value of SAR 0.5 per share. The stock's last price on Nomu was SAR 30.24.
The number of TASI-listed companies rose to 239, excluding 19 REITs. The number of companies listed on Nomu dropped to 121, excluding Alwaha REIT Fund.
Company Profile:
Obeikan Glass
Obeikan Glass was established in Riyadh as a closed joint stock company, under the Articles of Association dated Dec. 23, 2006, Ministerial Resolution dated Sept. 9, 2007 and the minutes of the Constituent Assembly dated November 2007. The company manufactures, produces, and sells clear float glass and safety glass.
The company was directly listed on the Nomu – Parallel Market on February 7, 2022, with a reference share price set at SAR 68 at the time of listing.
Since its listing, the company increased its capital once in November 2023, from SAR 240 million to SAR 320 million, through the distribution of bonus shares.
Saudi Azm:
Saudi Azm was established in Riyadh as a limited liability company in 2017. It provides management advisory services, repair and maintenance of personal computers and laptops, and selling wired and wireless equipment and devices.
The company was directly listed on the Nomu – Parallel Market on March 1, 2022, with a reference trading price set at SAR 70 per share.
In June 2023, the company made a stock split, reducing the nominal value per share from SAR 10 to SAR 0.5.
Saudi Azm Transition Details
Item
Nomu
TASI
Capital (SAR mln)
30.0
30.0
Number of Shares (mln)
3.0
60.0
Par Value per Share (SAR)
10
0.5
Sector
Capital Goods
Capital Goods
Daily Fluctuation Limit
30%
10%
Listing Price (SAR)
70.00
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
Under the amended listing regulations issued by the CMA, companies planning to transfer from Nomu to TASI are obliged of the following:
1) Firms may only apply to transfer to the Main Market after two calendar years from listing on Nomu.
2) The average aggregate market value of the transferred shares must be at least SAR 200 million in the six-month period prior to the submission of application.
3) An issuer must disclose to the public the board report that includes all related information, before submitting the application.
4) Submitting the board of directors' approval on the transfer before the beginning of the trading session that follows the approval.
5) The issuer must disclose the transfer to the public upon submitting the apgplication.
Trading on the issuer's shares will be suspended for a period not exceedin five trading sessions before debuting on the Main Market.
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