Thob Al Aseel debuts on Tadawul today

Thob Al Aseel will begin trading today, November 10, 2019, on the Saudi Stock Exchange (Tadawul) with symbol 4012 under consumer discretionary sector.

The stock’s daily fluctuation limit will stand at 10 percent. 

On Nov. 4, Tadawul approved Thob Al Aseel's request to transition from Nomu Parallel Market to the main market. The company has SAR 300 million in capital, divided into 30 million shares.

The stock's opening price on Tadawul is SAR 42, based on its last close on Nomu.

Thob Al Aseel, the second company to transition from Nomu to the main market, brings up the number of listed firms on Tadawul to 178, excluding the 17 listed REITs.

Key highlights:

On June 15, 2017, Thob Al Aseel was listed on Nomu with SAR 150 million capital, divided into 15 million shares.

The company's shareholders in July 2018 approved raising its capital to SAR 300 million through bonus share distribution.

Thob Al Aseel owns 100 percent of Riyadh-based AljedaieTextils, which imports and exports men's clothing.

The company operates in 20 branches across the Kingdom, while Aljedaie has 39 stores.

Thob Al Aseel's outstanding shares have reached nearly 29.88 million shares, or 99.59 percent of its total shares (30 million).

The company will fully comply with the main market's transition requirements.

*Share price adjusted. The company was listed at a share price of SAR 85 and it hiked its capital by 100% through bonus shares.

Abdullah Saad Mohammed Abo Moati for Bookstores Co. will debut tomorrow on Tadawul. Meanwhile, other three players on Nomu announced their board of directors’ approval on transition to the Saudi main market.

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 two years.

Their board reports should be also disclosed to the public. Those company 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 six months before submitting transition requests.