Logo of Shatirah House Restaurant Co. (Burgerizzr)
The stock will trade with a daily fluctuation limit of 10%.
On Oct. 13, Tadawul approved Burgerizzr's application to transition from the Nomu-Parallel Market to TASI, with a capital of SAR 35 million, divided into 35 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 20.48, which will be TASI’s opening price.
Listing Burgerizzr's shares on TASI would bring the number of Tadawul-listed companies to 224, excluding 19 REITs, while the number of companies listed on Nomu would drop to 97, excluding Alwaha REIT Fund.
Company Profile:
The company was established as a sole proprietorship by its owner, Mohammad bin Ali Al-Ruwaigh, in Riyadh in 2009. It was converted into a limited liability company with SAR 1 million capital in 2013.
In 2019, Burgerizzr's capital increased by SAR 24 million through capitalizing the increase from retained earnings as of Dec. 31, 2018, to bring the company's capital to SAR 25 million. It was converted into a closed joint stock company, as per a resolution from the Ministry of Commerce.
Burgerizzr runs fast-food restaurants, specifically burgers. Its business also includes selecting branch locations, supply chains, and branch operations.
On Sept. 8, 2021, the company listed shares on Nomu by offering 725,000 shares, or 29% of capital, with a final offering price of SAR 165 a share.
On June 30, 2022, Burgerizzr increased capital from SAR 25 million to SAR 35 million via a bonus issue.
On May 31, 2023, the company reduced the stock’s nominal value from SAR 10 to SAR 1 a share.
|
Details of Transition to Main Market |
||
|
Item |
Upon Listing on Nomu |
Upon Listing on TASI |
|
Capital (SAR mln) |
25 |
35 |
|
Number of Shares (mln) |
2.5 |
35 |
|
Par Value (SAR) |
10 |
1 |
|
Sector |
Consumer Services |
Consumer Services |
|
Daily Fluctuation |
30% |
10% |
|
Offering Price (SAR) |
165.00 |
20.48 |
|
Eligibility |
Only Qualified Investors |
Any person, entity, institution, or fund, whether Saudi or foreign, that is permitted by the Capital Market Law and its implementing regulations to own and trade securities. |
The following is a table of the companies’ transition from Nomu to TASI:
|
Details of Companies’ Transition to Main Market |
||||
|
Company |
Board’s Approval |
Date of Request |
Approval Date |
Date of Listing Shares |
|
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 |
The amended listing regulations issued by the CMA included the conditions of transferring a Nomu listing to the main market.
Under these rules, 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 the day on which their shares were listed on Nomu.
2) The average aggregate market value of the transferred shares must be worth 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 which 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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