Baazeem to debut on Tadawul today

Baazeem Trading Co. will begin trading today, Dec. 4, 2019, on the Saudi Stock Exchange (Tadawul) with symbol 4051 under consumer discretionary sector.

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

On Nov. 28, Tadawul approved Baazeem's request to transition from Nomu Parallel Market to the main market. The company has SAR 101.25 million in capital, divided into 10.125 million shares.

Baazeem, the fifth company to transition from Nomu to the main market, brings up the number of listed firms on Tadawul to 181, excluding the 17 listed REITs. Meanwhile, the number of Nomu-listed companies declined to five.

The stock's opening price on Tadawul is SAR 53.10, based on its last close on Nomu.

Key highlights:

On Feb. 26, 2017, Baazeem was listed on Nomu. The stock was priced at SAR 39.

Baazeem was established in 1978 in Riyadh as an international product distributor and commercial registration firm. It localizes international trademarks and manufactures them locally.

Baazeem's free float shares have reached nearly 6.11 million shares, or 60.33% of its total shares (10.125 million).

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.