Raoom debuts on TASI today as 15th transition from Nomu

Logo of Raoom Trading Co.

Raoom Trading Co. will list and start trading on the Main Market (TASI) today, Jan. 27, under the symbol 4144 in the capital goods sector.

The stock will have a 10% daily price fluctuation limit.

On Jan. 6, the Saudi Exchange (Tadawul) approved Raoom’s application to transition from the Nomu-Parallel Market to TASI, with SAR 62.5 million in capital, divided into 6.25 million shares, at a par value of SAR 10 a share.

The stock’s last price on Nomu was SAR 193, which will be its opening price on TASI.

Raoom will bring the number of TASI-listed companies to 230, excluding 19 REITs. The number of companies listed on Nomu would drop to 106, excluding Alwaha REIT Fund.

Company Profile:

Raoom, established in 1992 as a closed Saudi joint-stock company, has its headquarters in Buraidah. The company’s activities, as listed in its commercial register, include the trade of glass, mirrors, aluminum decorations, and their installation.

Additionally, the company is engaged in various activities such as manufacturing, construction, transport, storage, and refrigeration. It also provides financial, business, and other services, alongside social, community, and personal services. Other areas of activity include trade, information technology, security, safety, agriculture, fishing, as well as mining, oil, and related sectors. The company also provides electricity, gas, and water services.

Raoom was listed on Nomu on Jan. 5, 2022, offering one million shares, representing 20% of its capital, with the final offering price set at SAR 80 per share. During the listing process, the company increased its capital on Aug. 7, 2022, from SAR 50 million to SAR 62.5 million through the distribution of bonus shares.

The following table details companies that have transitioned from Nomu to TASI:

Under the amended listing regulations issued by the CMA, companies planning to transfer from Nomu to TASI are obliged of the following:

1) Firms may only apply to transfer to the Main Market after two calendar years from listing on Nomu.

2) The average aggregate market value of the transferred shares must be at least SAR 200 million in the six-month period prior to the submission of application.

3) An issuer must disclose to the public the board report that includes all related information, before submitting the application.

4) Submitting the board of directors’ approval on the transfer before the beginning of the trading session that follows the approval.

5) The issuer must disclose the transfer to the public upon submitting the apgplication.

Trading on the issuer’s shares will be suspended for a period not exceedin five trading sessions before debuting on the Main Market.