Burgerizzr begins trading on Nomu today

Logo of Burgerizzr

Shares of Shatirah House Restaurant Co. (Burgerizzr) will be listed on Nomu Parallel Market, today, Sept 8, with the symbol 9520 and ISIN Code SA15C2IKKO13. 

Daily price fluctuation limits will be set at ± 30% while static price fluctuation limits will be ±10%.

On June 21, the Capital Market Authority (CMA) approved the company’s request to offer 725,000 shares, representing 29% of the capital, on Nomu - Parallel Market.

On Aug. 23, the book-building process to the offered shares was completed with a coverage ratio amounting to 6,646% of the total offer shares, at a final offer price of SAR 165 per share.

This will be the seventh listing on Nomu after the listings of Riyadh Cement Co. in September 2020, Watani Iron Steel in February 2021, Fesh Fash Snack Food Production Co. (May 2021), Mohammed Hassan Al Naqool Sons Co. (June 2021), and National Fertilizer Co. (NAFCO) (July 2021), and Canadian Medical Center (CMC) (August 2021).

Company Profile:

The company was established as a sole proprietorship by its owner, Mohammad bin Ali Al-Ruwaigh, in Riyadh in 2009. It was converted into a limited liability company with SAR 1 million capital in 2013.

 In 2019, Burgerizzr's capital increased by SAR 24 million by capitalizing the increase from retained earnings as of Dec. 31, 2018, to bring the company's capital to SAR 25 million. It was converted into a closed joint stock company, as per the resolution from the Ministry of Commerce.

 Burgerizzr runs fast-food restaurants, specifically burgers. Its business also includes selecting branch locations, supply chain and branch operations.

 The most important operations are based on the following points:

- Branch operations department: The company's branches reached 79 as of Dec. 31, 2020, distributed across the Kingdom.

- Central kitchen: The company has a supply department that manages the central kitchen and food preparation, which is considered the backbone of the supply operations for all branches.

- Marketing activities and various sale channels: The firm uses its marketing activities to communicate with customers.

- Care and quality-related operations.

- Licenses-related operations: The company has a specialized department to follow up the licenses of the municipality and civil defense for all its branches and sale channels.

Burgerizzr depends on several main sales channels to complete the sale and deliver the product, namely point-of-sale (POS) and electronic channels such as call centers and delivery apps.

The company does not have any commercial activity outside the Kingdom and has no subsidiaries within or outside the Kingdom. In addition, it has not opened any branch overseas.

Mohammad bin Ali Al-Ruwaigh is the major shareholder of the company with a 43% stake.

The following table illustrates the details of owners before and after the offering:

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