Banan to debut on TASI today, 13th transition from Nomu

Logo of Banan Real Estate Co.

Banan Real Estate Co. will list and start trading on the Main Market (TASI) today, Dec. 9, under the symbol 4324 in the real estate management and development sector.

The stock will have a 10% daily price fluctuation limit.

On Nov. 18, Tadawul approved Banan’s application to transition from the Nomu-Parallel Market to TASI, with SAR 200 million in capital, divided into 200 million shares, at a par value of SAR 1 a share, according to data available with Argaam.

The stock’s last price on Nomu was SAR 8.25, which will be its opening price on TASI.

Banan will bring the number of TASI-listed companies to 227, excluding 19 REITs. The number of companies listed on Nomu would drop to 104, excluding Alwaha REIT Fund.

Company Profile:

Banan was incorporated in 2005 in Riyadh, with current capital at SAR 200 million divided into 200 million shares.

The company’s core activity is the management and lease of owned or rented residential and commercial real estate, in addition to hotel apartments. Banan also provides real estate management services for a commission, and registration services.

Banan started trading as a direct listing on Nomu in August 2021, with the price guidance set at SAR 15 per share.

In June 2023, Banan reduced the stock nominal value from SAR 10 per share to SAR 1.

Transition Details
Item	Nomu	TASI
Capital (SAR mln)	200	200
Number of shares (mln)	20	200
Nominal value	10	1
Sector	Real estate management and development	Real estate management and development
Daily fluctuation limit	30%	10%
Listing price (SAR)	15.00	8.25
Eligible traders	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

Under the amended listing regulations issued by the CMA, companies wishing 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 application.

Trading on the issuer’s shares will be suspended for a period not exceeding five trading sessions before debuting on the Main Market.

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