Logo of Watani Iron Steel
FALCOM Financial Services, the financial advisor of Watani Iron Steel Co., announced today, Feb. 14, 2021, the publication of the supplementary registration document.
The company said in a bourse statement that the main registration document published on Dec. 30, 2020, contained information requiring a change, due to the presence of some typographical errors, mentioned in the supplementary document, listed below:
1) Amending a typo in the net cash flows used in investment activities for the six months ended June 30, 2019.
2) Modifying a typo in the sales value by product.
According to data compiled by Argaam, in December 2020, Watani Iron Steel Co. unveiled the registration document for the direct listing of its shares on Nomu Parallel Market.
The Capital Market Authority (CMA) approved on Dec. 30, 2020, the registration of the company’s shares for the purpose of direct listing on Nomu. The trading of the shares will be confined to qualified investors as stipulated in the CMA regulations and rules.
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Company Profile |
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Company |
Watani Iron Steel Co. |
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Market |
Nomu Parallel Market |
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Field of Activity |
Production of billet and iron rebars |
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Status |
Existing |
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Capital |
SAR 121.1 million |
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Direct Listing Information |
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No. of shares |
12.11 million |
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Share par value |
SAR 10 |
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Price guidance |
SAR 37 |
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Method of Setting Opening Price |
The share opening price is set based on demand and supply, by means of the opening auction mechanism. During such 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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Qualified Investors |
- Current shareholders (except for owners of 5% or more for which the lock-up applies. - Qualified investors categories |
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