Mohammed Hasan Al Naqool Sons debuts on Nomu today

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.

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

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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