KEIR International Co.'s Nomu debut ceremony
The Saudi Exchange (Tadawul) announced that KEIR International Co. will start trading on Nomu - Parallel Market today, July 17, with the symbol 9542 and ISIN Code SA15J0H4L312.
The company’s shares will trade with a daily price fluctuation of +/- 30% and +/- 10% static price fluctuation limits.
On May 25, the Capital Market Authority (CMA) approved the company’s application to register its shares for a direct listing on Nomu.
On June 9, the firm announced the registration document for listing its shares on Nomu and set the price guidance at SAR 34 per share.
This is the 18th listing on Nomu this year, including eight direct listings and 10 listings through offering shares to qualified investors.
Company Info
KEIR was established in 2007 as KEIR for Telecommunication and Information Technology, a limited liability company, in Riyadh. In 2014, the firm rebranded to KEIR International, with its capital currently standing at SAR 120 million.
KEIR operates in the design, engineering, construction, operation and maintenance of communications networks. It also designs, builds and maintains electricity networks. The firm prepares designs for the construction of smart and safe cities, and provides related services, such as towers, cameras, fiber-optic cables, and other electrical works.
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Company Profile |
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Company |
KEIR International |
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Market |
Nomu - Parallel Market |
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Core Activities |
Executing and maintaining telecommunication networks |
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Status |
Active |
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Capital |
SAR 120 mln |
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Direct Listing Highlights |
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Number of Shares |
12 mln |
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Share Par Value |
SAR 10 |
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Share Price Guidance |
SAR 34 |
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Method of Setting Opening Price |
The opening price is set based on the stock’s supply and demand, 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 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, to whom the lock-up period shall apply).
- Qualified investors categories. |
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KEIR International Shareholders |
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Shareholders |
Before Direct Listing |
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Number of Shares (mln) |
Ownership (%) |
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Eirad Holding LTD |
4.92 |
40.96% |
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Mohammed Ali Aldhalaan |
0.99 |
8.26% |
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Shareholders owning less than a 5% stake (69 shareholders) |
6.09 |
50.77% |
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Total |
12.00 |
100.00% |
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