Logo of Saudi Azm for Communication and Information Technology Co.
Saudi Azm for Communication and Information Technology Co. announced today, Jan. 26, the registration document for the direct listing of its shares on Nomu - Parallel Market.
The company set the price guidance per share at SAR 70.
On Dec. 29, 2021, the Capital Market Authority (CMA) approved the registration of Saudi Azm’s shares for the purpose of direct listing on Nomu.
The company was established in 2017 as a limited liability company in Riyadh. The current capital stands at SAR 30 million.
Saudi Azm provides communications and information services; support and administrative services; vocational, technical and academic activities; system analysis; software design and maintenance; website design; and hosting infrastructure services.
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Saudi Azm Shareholders |
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Shareholders |
Before Direct Listing |
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Direct Ownership |
Indirect Ownership |
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Majid S. Al Osaimi |
21.0% |
1.63%* |
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Ali Mohammed Rashid Al-Balla |
20.97% |
1.63%* |
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Anova Investment |
10.00% |
1.63%* |
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Nouf Khaled Al-Jerewi |
4.89% |
5.82%** |
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Total |
56.86% |
10.71% |
*Each owns 33.3% of Saudi Azm, which owns 4.90% of the company
**Through its ownership of a 50% stake in Anova
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Company Profile |
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Company |
Saudi Azm for Communication and Information Technology |
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Market |
Nomu Parallel Market |
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Core Activities |
Information, communications, and computer maintenance |
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Status |
Active |
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Capital |
SAR 30 mln |
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Direct Listing Highlights |
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Number of Shares |
3 mln |
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Nominal Value |
SAR 10/share |
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Price guidance |
SAR 70 |
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Method of Setting Opening Price |
The opening price is set based on demand and supply, by means of the opening auction mechanism. During such a period, investors can enter buy/sell orders, and thus the trading system finds the fair price with which orders are executed after being matched during the auction period. The execution price will be the opening price with an allowed daily fluctuation ratio of +/-30%.
The price guidance is considered a reference only for the fair market value, which is the debut price for the first day only. |
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Additional Information |
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Financial advisor |
Alkhair Capital |
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Legal Adviser |
Al Saleh & Al Sahli |
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