Logo of Natural Gas Distribution Co.
Natural Gas Distribution Co. (NGDC) announced the shares listing guide for the purpose of direct listing on the Nomu Parallel Market.
The company set the price guidance for the initial public offering (IPO) in the parallel market at SAR 13.
According to data compiled by Argaam, the Capital Market Authority (CMA) approved in March the first direct listing of NGDC on the Nomu Parallel Market.
NGDC, a limited liability company, was established in 2000 with a capital of SAR 15 million. The company’s current capital is SAR 50 million.
As stated in its commercial registry, the company's activities focus on the distribution of gaseous fuels through pipelines, gas pipeline expansion, maintenance, and repair, wholesale of gaseous fuels, and the transportation of natural gas through pipelines.
As stated in the Articles of Association, the company’s activities include practicing and carrying out the following:
- Purchasing dry gas from Saudi Arabian Oil Co. (Saudi Aramco), and establishing and utilizing networks to distribute it to all current and future plants in the industrial cities across Saudi Arabia, according to the prices set by the state.
- Operating and maintaining networks to serve customers for a fee agreed upon with the Ministry of Energy.
- Practicing and investing in various energy fields, related to all phases of the energy sector.
- Investing in stocks and securities.
- Owning real estate and movable assets necessary to conduct its activity.
- Possessing and exploiting industrial ownership such as patents, trademarks, concession rights and other intangible rights, and leasing them to subsidiaries or others.
The company's current activity is to purchase dry gas from Saudi Aramco and establish, operate, and maintain a distribution network for all current and future plants in the Second Industrial City of the Saudi Authority for Industrial Cities and Technology Zones (MODON)
|
Major Shareholders before Direct Listing |
||
|
Shareholders |
Number of shares (,000) |
Stake % |
|
National Gas and Industrialization Co. (GASCO) |
1750.00 |
35.00% |
|
Saudi Ceramic Co. |
793.33 |
15.87% |
|
Al Abdullatif Industrial Investment Co. |
576.67 |
11.53% |
|
Riyadh Cables Group Co. |
383.33 |
7.67% |
|
Al-Jawdah Porcelain & Ceramic Co. |
276.67 |
5.53% |
|
Other shareholders (57 shareholders) |
1220.00 |
24.40% |
|
Total |
5000 |
100 % |
|
Company Profile |
|
|
Company |
Natural Gas Distribution Co. (NGDC) |
|
Stock market |
Nomu - Parallel Market |
|
Core Activities |
Distribution of gaseous fuels through pipelines, gas pipeline expansion, maintenance, and repair |
|
Status |
Active |
|
Capital |
SAR 50 mln |
|
IPO Profile |
|
|
No. of shares |
5 mln shares |
|
Nominal value |
SAR 10 |
|
Price guidance |
SAR 13 |
|
Determining opening price |
Opening price of the share is determined based on the supply and demand through the opening auction mechanism, which is a period prior to the opening of the market. Investors can enter during this period to place the buy and sell orders, and then the trading system finds the fair price at which the orders are executed after matching them in the auction period. The execution price is the opening price with a permissible daily fluctuation rate of 30%. The price guidance is only a reference for the fair market value and is the listing price for the first day only. |
|
Categories of investors eligible to trade the company's shares |
- Trading shares subject to IPO in the parallel market is restricted to the current shareholders, except for major shareholders owning 5% or more and subject to the lock-up period. - Qualified investors |
|
Additional Information |
|
|
Financial advisor |
FALCOM |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}