Logo of Banan Real Estate Co.
Banan Real Estate Co. will list and start trading on the Main Market (TASI) today, Dec. 9, under the symbol 4324 in the real estate management and development sector.
The stock will have a 10% daily price fluctuation limit.
On Nov. 18, Tadawul approved Banan’s application to transition from the Nomu-Parallel Market to TASI, with SAR 200 million in capital, divided into 200 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 8.25, which will be its opening price on TASI.
Banan will bring the number of TASI-listed companies to 227, excluding 19 REITs. The number of companies listed on Nomu would drop to 104, excluding Alwaha REIT Fund.
Company Profile:
Banan was incorporated in 2005 in Riyadh, with current capital at SAR 200 million divided into 200 million shares.
The company’s core activity is the management and lease of owned or rented residential and commercial real estate, in addition to hotel apartments. Banan also provides real estate management services for a commission, and registration services.
Banan started trading as a direct listing on Nomu in August 2021, with the price guidance set at SAR 15 per share.
In June 2023, Banan reduced the stock nominal value from SAR 10 per share to SAR 1.
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Transition Details |
||
|
Item |
Nomu |
TASI |
|
Capital (SAR mln) |
200 |
200 |
|
Number of shares (mln) |
20 |
200 |
|
Nominal value |
10 |
1 |
|
Sector |
Real estate management and development |
Real estate management and development |
|
Daily fluctuation limit |
30% |
10% |
|
Listing price (SAR) |
15.00 |
8.25 |
|
Eligible traders |
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 |
The following table details companies that have transitioned from Nomu to TASI:
|
Details of Companies’ Transition to Main Market |
||||
|
Company |
Board Approval |
Transfer Application |
Official Approval |
Listing Shares on TASI |
|
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 |
|
Banan |
July 4, 2023 |
June 4, 2024 |
Nov. 18, 2024 |
Dec. 9, 2024 |
Under the amended listing regulations issued by the CMA, 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 listing on Nomu.
2) The average aggregate market value of the transferred shares must be 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 that 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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