Tadweeer announces registration document to list on Nomu, sets price guidance at SAR 65/share

Logo of Environmental Recycling Co. (Tadweeer)

National Environment Recycling Co. (Tadweeer) announced the registration document for listing its shares on Nomu Parallel Market.

The company set price guidance at SAR 65 per share.

On March 30, 2022, the Capital Market Authority (CMA) approved Tadweeer’s application to list its shares on Nomu Parallel Market, Argaam earlier reported.

The company was established in 2015 in Riyadh as a closed joint stock company. Its capital currently stands at SAR 58.08 million.

The company mainly operates in the recycling of electronics and electrical waste, in accordance with approved environmental standards issued by the supervisory authorities. It aims to produce various raw metals from the waste of electronics and electrical devices as per a business model that is compatible with the Kingdom's environmental protection regulations.

The company crushes and sorts these devices and separates mixed metals through techniques based on artificial intelligence, which results in various metals of high purity, such as: Copper and aluminum metals of all kinds, stainless steel, nickel, chromium, iron and plastic, electronic panels that contain precious metals such as gold and silver, and other various types of hard metals. The company sells those minerals, which vary in purity between 80-99%, to the local and global markets.

The company's activities are as follows: Manufacturing industries and their branches according to industrial licenses, construction and building, transportation, storage and refrigeration, social, collective and personal services, and trade.

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