Baazeem Trading Co. will begin trading today, Dec. 4, 2019, on the Saudi Stock Exchange (Tadawul) with symbol 4051 under consumer discretionary sector.
The stock’s daily fluctuation limit will stand at 10%.
On Nov. 28, Tadawul approved Baazeem's request to transition from Nomu Parallel Market to the main market. The company has SAR 101.25 million in capital, divided into 10.125 million shares.
Baazeem, the fifth company to transition from Nomu to the main market, brings up the number of listed firms on Tadawul to 181, excluding the 17 listed REITs. Meanwhile, the number of Nomu-listed companies declined to five.
The stock's opening price on Tadawul is SAR 53.10, based on its last close on Nomu.
Key highlights:
On Feb. 26, 2017, Baazeem was listed on Nomu. The stock was priced at SAR 39.
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Baazeem Commercial’s transition Details |
||
|
Item |
Before transition from Nomu |
After transition to TASI |
|
Capital (SAR mln) |
101.25 |
101.25 |
|
Number of shares (mln shares) |
10.125 |
10.125 |
|
Sector |
Retailing |
Retailing |
|
Daily fluctuation limit (%) |
20 % |
10 % |
|
Listing Price (SAR/share) |
39.00 |
53.10 |
|
Shares trading possibility |
Only 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. |
Baazeem was established in 1978 in Riyadh as an international product distributor and commercial registration firm. It localizes international trademarks and manufactures them locally.
Baazeem's free float shares have reached nearly 6.11 million shares, or 60.33% of its total shares (10.125 million).
Based on the listing rules issued by the Capital Market Authority (CMA), the companies aiming to transition from Nomu to Tadawul should be initially listed on Nomu for two years.
Their board reports should be also disclosed to the public. Those company are required to fully comply with listing regulations on Tadawul, except for market capitalization, as the minimum market cap should stand at SAR 200 million in average six months before submitting transition requests.
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Companies’ transition from Nomu to TASI Details |
||||
|
Company |
Board approval |
Submitting transmission request |
Tadawul’s approval on transmission |
Listing the company’s shares in main market |
|
Al Kathiri |
October 9, 2019 |
October 15, 2019 |
October 28, 2019 |
November 3, 2019 |
|
Abo Moati |
October 6, 2019 |
October 16, 2019 |
November 4, 2019 |
November 11, 2019 |
|
Al Aseel |
October 6, 2019 |
October 16, 2019 |
November 4, 2019 |
November 10, 2019 |
|
Baazeem |
October 7, 2019 |
November 14, 2019 |
November 28, 2019 |
December 4, 2019 |
|
Raydan |
October 8, 2019 |
October 29, 2019 |
November 17, 2019 |
November 21, 2019 |
|
Arab Sea |
October 9, 2019 |
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