Mohammed Hasan Al Naqool Sons debuts on Nomu today

02/06/2021 Argaam Special

Logo of Mohammed Hasan Al Naqool Sons Co. 


Shares of Mohammed Hasan Al Naqool Sons Co. will start trading on Nomu - Parallel Market, today, June 2, 2021, as a direct listing under the symbol 9514 and ISIN Code SA158GAKKL15. 

 

Daily price fluctuation limits will be set at ± 30%, while static price fluctuation limits will be ± 10%.

 

On Dec. 30, 2020, the company received the approval of the Capital Market Authority (CMA) to register shares for direct listing on the parallel market, provided the shares are traded by qualified investors, according to data compiled by Argaam.

 

The company published the registration form of its direct listing on Nomu on April 27, 2021, and set the price guidance at SAR 21 per share.

 

This will be the fourth direct listing on Nomu following the listing of Riyadh Cement Co. in September 2020, Watani Iron Steel Co (February 2021) and Fesh Fash Snack Food Production Co. in May. It will also be the third listing on Nomu this year.

 

Company Profile

 

Al Naqool was established in early 1977 as a Saudi closed shareholding company, with SAR 29 million capital, divided into 2.9 million shares.

 

 The company's main activity is manufacturing of hollow cement blocks and bricks, as well as ready-mixed concrete. Its activities include the following:

 

- Production of cement blocks and ready-mixed concrete.

- Aluminum, blacksmithing and carpentry works.

- Buying lands, constructing buildings on them, and investing by selling or renting for the interest of the company.

- Import, export, commercial and distribution agent’s services.

- Transportation and crushers.

 

The company's current activity is manufacturing and production of ready-mixed concrete.

 

Company Profile

Company

Mohammed Hasan Al Naqool Sons Co

Market

Nomu Parallel Market

Core Activities

Manufacturing of hollow cement blocks and bricks, as well as ready-mixed concrete

Status

Active

Capital

SAR 29 mln

 

Information about the Direct Listing

Number of shares

2.9 mln

Share par value

SAR 10

Share price guidance

SAR 21

Method of setting share opening price


The opening price of the stock shall be set based on the supply and demand for the stock, through the pre-opening auction mechanism. During that period, investors can place buy/sell orders, after which the trading system defines the fair price at which orders are executed after being matched during the auction period. The execution price will be the opening price, with a 30% daily fluctuation ratio.

 

The price guidance is a reference for the fair market value, and is also the debut price.
 

Those qualified to trade the stock


- Trading the stock upon direst listing on the parallel market shall be limited to existing shareholders, with the exception of the company's major shareholders who own 5% or more of its capital, and to whom the lock-up period applies.

 

- Qualified investors
 

 

Majed Al-Subaey is the largest shareholder in the company before the direct listing on the parallel market.

 

Shareholders

Shareholders

Before the direct listing

Number of shares (’000)

Stake%

Majed Al-Subaey

377

13%

Turki Al-Subaey

232

8%

Nayef Al-Subaey

203

7%

Hussa Mufreh Al-Subaey

174

6%

Abdullah Al-Subaey

145

5%

Other shareholders owning less than 5% (59 shareholders)

1769

61%

Total

2900

100%

 

Types of qualified investors:

 

- Persons authorized to act on their own account.

 

- Retail clients who are authorized to carry out management operations, provided that such authorized persons are appointed with the terms that enable them to take decisions related to accepting the participation in the share offering and investment in the parallel market, on behalf of the client, without the need to obtain prior consent from the client.

 

- The Saudi government, any governmental body, any international entity approved by CMA or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center.

 

- Companies that are owned by the government, directly or through private portfolio manager.

 

- Companies and funds established in the GCC countries.

 

- Investment funds.

 

- Non-resident foreigners who are allowed to invest in the parallel market and who fulfill the requirements as stipulated in the guide of non-resident foreigners’ investments in the parallel market.

 

- Qualified foreign financial institutions.

 

- Any legal persons who have the right to open investment accounts inside the Kingdom, and accounts at the Securities Depository Center.

 

- Natural persons who can open investment accounts inside the Kingdom and accounts at the Securities Depository Center, and who fulfill the following criteria:

 

1) To have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months.

 

2) Net assets value is not less than SAR 5 million.

 

3) To be working or has worked for at least 3 years in the financial sector.

 

4) To hold a general certificate in securities dealing, approved by CMA.

 

5) To hold a professional certificate in the field of securities business, approved by an internationally recognized body.

 

- Any other persons to be defined by CMA.

 

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