Watani Iron Steel issues registration document for direct listing on Nomu

Watani Iron Steel Co. logo

Watani Iron Steel Co. announced today, Jan. 17, 2021, 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 Watani Iron Steel Co.’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.
 

According to the company's document, potential qualified investors who wish to invest in shares upon completing the registration and debuting on Nomu Parallel Market will be treated based on the investment decision that relied on the information included in the document.

Established in August, 2008, the company's is capitalized at SAR 121.1 million, divided into 12.11 million ordinary shares.

It hired FALCOM Financial Services as a financial advisor for the share listing.

The company's annual production capacity stands at 280,000 tons of billet and 320,000 tons of rebars.

The company produces steel rebars using the billet produced at its factory. It's operations are divided between two units: one for producing billet and the other for steel rebars.

The company manages its operations via tis administration in Riyadh, on Kharj Road, south of the Third Industrial City.

Najma Axia Trading Ltd is the company's largest shareholder, with a 67.57% stake.

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