Fesh Fash starts trading as third direct listing on Nomu today

Logo of Fesh Fash Snack Food Production Co.

Fesh Fash Snack Food Production Co. starts trading on Nomu - Parallel Market today, May 4, 2021, under the symbol 9515 and ISIN Code SA15A054KLH2, according to the Saudi Stock Exchange (Tadawul).

Daily fluctuation limit is ±30% and static price fluctuation limit is ±10%.

On March 31, the Capital Market Authority (CMA) approved the application submitted by Fesh Fash Snack Food Production Co., to register shares for direct listing in the parallel market (Nomu).

The company published its registration document on April 13, 2021, announcing that the price guidance for listing is SAR 50.

This is the third direct listing on the Nomu - Parallel Market after Riyadh Cement Co. (formerly Saudi White Cement Co.) in September 2020, and Watani Iron Steel Co. in February 2021. It is also the second direct listing on Nomu in 2021.

Fesh Fash was established in April 1981 with a current capital of SAR 11.30 million, divided into 1.13 million shares.

The company is active in the field of production and sale of corn puffs, potato puffs and natural potato chips through production of these products in its factory in the Second Industrial Zone located on Al-Kharj Road. The factory is established on a rented land from Saudi Authority for Industrial Cities and Technology Zones (Modon) with an area of 15,400 square meters.

Ibrahim Suleiman Al Muhawis is the largest shareholder in the company, with a 32.74% stake.

The categories of qualified investors are as follows:

 - Authorized persons who act for their own account.

 - Clients of a person licensed to conduct activities management with the provisions and restrictions set forth in the book-building instructions.

- Government entities, any international body recognized by the CMA, the Exchange, or any other stock market recognized by the CMA, or the Depository Centre.

- Government-owned companies, investing directly or through a portfolio manager.

- Companies and funds established in the GCC

- Investment funds

- Non-resident foreigners who are permitted to invest in the parallel market and who fulfil the requirements stipulated in the investment guidelines.

- Qualified foreign financial institutions.

- Legal persons who will open an investment account in the Kingdom, and an account with the Depository Centre.

- Natural persons allowed to open an investment account in the Kingdom and an account with the Depository Centre and fulfil any of the following criteria:

1) He/she has conducted transactions in the stock market of no less than SAR 40 million in total, and no less than 10 transactions in each quarter in the last 12 months.

2) Value of his/her net assets should be worth no less than SAR 5 million.

3) He/she works or has previously worked for at least three years in the financial sector.

4) He/she holds the General Securities Qualification Certificate, recognized by the CMA.

5) He/she holds a professional certificate specializing in securities business and accredited by an internationally recognized entity.

6) Any other persons prescribed by the CMA.

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