Al-Omran Industrial Trading Co. starts trading today, July 21, on the Saudi Stock Exchange (Tadawul) under the symbol 4141 in the capital goods group, with a 10% daily price fluctuation limit per share.
On July 15, Tadawul approved the request from Al-Omran to transition its shares from the parallel market to the main market, with SAR 60 million in capital, divided into 6 million shares.
Al-Omran is the seventh firm to move from the parallel market to the main market, following Arab Sea Information Systems Co., Al Kathiri Holding Co., Thob Al Aseel Co., Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati), Raydan Food Co., and Baazeem Trading Co.
Al-Omran closed at SAR 80.4 per share in its last trading session on Nomu, which is the price at which it will open in the main market.
With this listing of Al-Omran, the number of Saudi-listed companies rose to 185 in addition to 17 real estate investment traded funds (REITs). On the other hand, the number of listed firms on Nomu decreased to 4.
Key Highlights:
In 2003, Al-Omran was established as a limited liability company (LLC) with a capital of SAR 3.2 million, under the name "Al Omran Metal Kitchens".
In 2007, the company was converted into a closed joint stock firm with a capital of SAR 60 million, divided into 6 million shares. The company’s name was amended to “Al-Omran Industrial Trading”.
On Feb. 26, 2017, Al-Omran was listed on Nomu with a listing price of SAR 28.
The Saudi-based company produces home and electronic appliances, as well as metal, plastic, paper, and cardboard products, and their complementary works. It also operates in wholesale and retail trade of home and electronic appliances; plastic, paper, and cardboard products; and spare parts.
The company purchases land to construct buildings, and invests in selling or renting them, in addition to real estate management. The firm is also into construction, management and maintaining public buildings, hospitals, and dispensaries.
The company carries out import and export of household and electronic appliances; metal, plastic, paper, and cardboard products; spare parts; and their complementary works.
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Al-Omran’s Transition Details |
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|
Item |
In parallel market |
In main market |
|
Capital (SAR mln) |
60 |
60 |
|
No. of Shares (mln) |
6 |
6 |
|
Sector |
Capital Goods |
Capital Goods |
|
Daily Fluctuation Limit (%) |
20% |
10% |
|
Listing Price (SAR) |
28.00 |
80.40 |
|
Possibility of trading in the company’s shares |
Only for qualified investors |
Any person, authority, institution or fund, whether local or foreign, authorized by the Capital Market Law and its executive regulations to own and trade securities. |
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Companies’ transition to main market in details |
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|
Company |
Board’s Approval |
Request to Transfer |
Tadawul’s Approval |
Listing on Main Market |
|
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 |
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 2 years. Their board reports should be disclosed to the public as well.
The companies 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 of 6 months before submitting transition requests.
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