Logo of Edarat Group
Edarat Communications and Information Technology Co. (Edarat) will begin trading on Nomu-Parallel Market today, Dec. 26, with the symbol 9557 and ISIN Code SA15M4M4LAH3.
Shares will trade with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits, as the company is planning to meet the liquidity requirements with a liquidity provider.
On Nov. 28, the Capital Market Authority (CMA) gave the go-ahead to Edarat for a direct listing on Nomu.
In November, Edarat published its registration documents, setting per share guidance price at SAR 300.
Edarat’s is the 31th IPO on Nomu since the beginning of the year, including 13 direct listings and 18 listings for qualified investors.
This listing brings the number of Nomu-listed companies to 45, in addition to Alwaha REIT Fund.
Company Info:
Edarat was established in 2008 in Riyadh as a closed join stock company. It is a 50%-owned subsidiary of Al Moammar Information Systems Co. (MIS) that is listed on the Saudi Exchange (Tadawul).
The company provides the services of internet-of-things (IoT) operators. Leasing telecommunications infrastructure, system analysis, and management of telecommunications networks. It also establishes infrastructure for hosting websites on networks, and provides services for data preparation and registration for cloud computing services.
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Company Profile |
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Company |
Edarat Co. for Communication & Information Technology (Edarat) |
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Market |
Nomu-Parallel Market |
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Core Activities |
Operation of IoT networks, leasing of telecommunications infrastructure, system analysis, etc. |
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Status |
Active |
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Capital |
SAR 6.3 mln |
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Direct Listing Profile |
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Number of shares |
630,000 shares |
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Share par value |
SAR 10 |
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Share price guidance upon listing |
SAR 300 |
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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 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 |
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Shareholders |
Before Direct Listing |
After Direct Listing & Liquidity Plan |
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Number of shares (‘000) |
Ownership (%) |
Number of shares (‘000) |
Ownership (%) |
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MIS |
315.00 |
50.00% |
252.00 |
40.00% |
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Adel Fouad Rizk |
105.00 |
16.66% |
84.00 |
13.33% |
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Erick Ernest Albadawi |
105.00 |
16.66% |
84.00 |
13.33% |
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Ghassan Adel Alkhazen |
105.00 |
16.66% |
84.00 |
13.33% |
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Qualified investors |
-- |
-- |
126.00 |
20.00% |
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Total |
630.00 |
100% |
630.00 |
100% |
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