Sumou debuts on Tadawul today; 10th to transition from Nomu

Headquarters of Sumou Real Estate Co.

Shares of Sumou Real Estate Co. will list and trade on the Saudi Exchange (Tadawul) today, Sept. 7, with the symbol 4323 and under the Real Estate Management & Development sector.   

The stock will have a daily fluctuation limit of +/- 10%.

The company received, on Aug. 20, Tadawul's approval on its transition from Nomu-Parallel Market to the main market.

The company’s capital is SAR 375 million, divided into 37.5 million shares. The stock last traded on Nomu at SAR 57, which will be the listing price on the main market.

Sumou will be the 10th company to transition from Nomu to the main market.

Accordingly, the number of companies listed on the main market will rise to 211, excluding the 18 REITs. The number of companies on Nomu will decrease to 65. 

Company Profile 

Somou Real Estate Co., 62.97% owned by Sumou Holding Group, has been managing and developing real estate projects since 2008. 

The company works in the field of implementing and managing real estate developments and investments in Saudi Arabia, such as commercial centers, housing complexes, residential units, and infrastructure for industrial and commercial establishments, economic cities, and free zones. 

Somou Real Estate debuted on Nomu on May 11, 2020, with 1.25 million shares offered at SAR 24 each (SAR 36 per share after adjusting the capital via a bonus shares distribution). 

While listed on Nomu, the company increased its capital on May 5, 2021, from SAR 250 million to SAR 375 million through a bonus shares issue.