Alsaif Gallery begins trading on Tadawul today, marks 16th listing in 2022

Logo of Alsaif Gallery

Al-Saif Stores for Development & Investment Co. (Alsaif Gallery) will start trading on the Saudi Exchange (Tadawul) today, Dec. 27, under retailing industry group, with the symbol 4192 and ISIN Code: SA15M1PI1G19, at per share price of SAR 115.

The daily and static price fluctuation limits of +/-30% and +/-10%, respectively, will apply during the first three days of the listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.

Alsaif Gallery is the 16th company that joined the main market in 2022, following Elm Co., East Pipes Integrated Company for Industry, Scientific & Medical Equipment House Co., Al-Dawaa Medical Services Co., Nahdi Medical Co., Al Masane Al Kobra Mining Co. (AMAK), Saudi Home Loans Co., Retal Urban Development Co., Alamar Foods and Naqi Water Co., Arabian Drilling Co., MARAFIQ, Perfect Presentation, Americana Restaurants and Riyadh Cables Group Co.

In 2021, Tadawul witnessed nine listings; Alkhorayef Water and Power Technologies Co. (March 1), Theeb Rent a Car Co. (March 29), Tanmiah Food Co. (Aug. 4), solutions (Sept. 30), ACWA Power (Oct. 11), Arabian Contracting Services Co. (Al Arabia) (Nov. 15), Nayifat Finance Co. (Nov. 22), Saudi Tadawul Group (Dec. 8) and Almunajem Foods Co. (Dec. 20).

Today’s listing will bring the total number of Tadawul-listed companies to 205, in addition to 17 REITs.

The company offered 10.5 million shares, or 30% of its capital, on the main market, at SAR 115 per share, of which 90% was allocated to the participating parties and 10% to individual investors, according to data available with Argaam.

The retail subscription was 269% oversubscribed, while the participating parties offering was 15.5x covered.

Each retail investor received a minimum of 10 shares, while the remaining shares were allocated pro rata, based on the demand size of every subscriber to total shares, with an allocation factor of 9.9%.

Company’s profile

Alsaif Gallery, a Saudi closed joint stock company, was established in 1993 as a limited liability company in Riyadh.

The company’s capital stands at SAR 350 million, divided into 35 million shares. It operates in retailing home appliances and kitchenware.

It has only one subsidiary, Alsaif Gallery Trading, a single-person limited liability company incorporated in Abu Dhabi, with AED 10,000 capital. Work is underway to register the subsidiary in the Abu Dhabi commercial registry.

Alsaif Gallery owns nine properties in Tabuk, Al-Kharj and Riyadh. It entered into 53 leases for properties used for the company’s stores.

The company’s board of directors is chaired by Suleiman bin Muhammad bin Saleh Alsaif, who owned 92.5% of Alsaif Gallery’s capital pre-IPO and 62.5% post-IPO.