Obeikan Glass issues registration document for direct listing on Nomu, sets price guidance at SAR 68

Logo of Obeikan Glass Co.

Obeikan Glass Co. published today, Jan. 17, the registration document for its planned direct listing on Nomu Parallel Market, according to a bourse statement.

The price guidance was set at SAR 68.

In December, the Capital Market Authority (CMA) approved the application of Obeikan Glass Co. to register its shares on Nomu, Argaam earlier reported.

Obeikan Glass was established in 2007 as a closed joint-stock company in Riyadh. Its capital stands currently at SAR 240 million.

The company is a manufacturer of all kinds of glass. It is also engaged in the wholesale and retail trade for all kinds of glass, raw materials for glass, and accessories; producers, chops, colors and installs glass. Obeikan establishes and manages related mining quarries.

Obeikan Glass Shareholders
Shareholders	Before Direct Listing
Shareholders	No. of shares (mln)	Ownership percentage
Obeikan Investment Group	10.52	43.83%
Saudi Advanced Industries Co. (SAIC)	9.60	40%
Shareholders of less than 5% stakes (79 shareholders)	3.88	16.17%
Total	5000.0	100%

Company Profile
Company	Obeikan Glass Co.
Market	Nomu Parallel Market
Core Activities	Manufacture and production of all kinds of glass
Status	Active
Capital	SAR 240 mln

Direct Listing Highlights
Number of Shares	24 mln shares
Nominal Value	SAR 10/share
Price guidance	SAR 68
Method of Setting Opening Price	The opening price is set based on demand and supply, by means of the opening auction mechanism. During such a period, investors can enter buy/sell orders, and thus the trading system finds the fair price with which orders are executed after being matched during the auction period. The execution price will be the opening price with an allowed daily fluctuation ratio of +/-30%. The price guidance is considered a reference only for the fair market value, which is the debut price for the first day only.
Qualified investors	- Current shareholders (except for owners of 5% or more for which the lock-up applies. - Qualified investors categories

Additional Information
Financial advisor	FALCOM Financial Services
Legal Advisor	Al Azem, Al Sudairy, Al Shaikh & Partners CPA's & Consultants

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