Saudi Azm issues registration document for direct listing on Nomu, sets price guidance at SAR 70

Logo of Saudi Azm for Communication and Information Technology Co.

Saudi Azm for Communication and Information Technology Co. announced today, Jan. 26, the registration document for the direct listing of its shares on Nomu - Parallel Market.

The company set the price guidance per share at SAR 70.

On Dec. 29, 2021, the Capital Market Authority (CMA) approved the registration of Saudi Azm’s shares for the purpose of direct listing on Nomu.

The company was established in 2017 as a limited liability company in Riyadh. The current capital stands at SAR 30 million.

Saudi Azm provides communications and information services; support and administrative services; vocational, technical and academic activities; system analysis; software design and maintenance; website design; and hosting infrastructure services.

Saudi Azm Shareholders
Shareholders	Before Direct Listing
Shareholders	Direct Ownership	Indirect Ownership
Majid S. Al Osaimi	21.0%	1.63%*
Ali Mohammed Rashid Al-Balla	20.97%	1.63%*
Anova Investment	10.00%	1.63%*
Nouf Khaled Al-Jerewi	4.89%	5.82%**
Total	56.86%	10.71%

*Each owns 33.3% of Saudi Azm, which owns 4.90% of the company

**Through its ownership of a 50% stake in Anova

Company Profile

Company

Saudi Azm for Communication and Information Technology

Market

Nomu Parallel Market

Core Activities

Information, communications, and computer maintenance

Status

Active

Capital

SAR 30 mln

Direct Listing Highlights

Number of Shares

3 mln

Nominal Value

SAR 10/share

Price guidance

SAR 70

Method of Setting Opening Price

The opening price is set based on demand and supply, by means of the opening auction mechanism. During such a period, investors can enter buy/sell orders, and thus the trading system finds the fair price with which orders are executed after being matched during the auction period. The execution price will be the opening price with an allowed daily fluctuation ratio of +/-30%.

The price guidance is considered a reference only for the fair market value, which is the debut price for the first day only.

Qualified Investors

- Current shareholders (except for owners of 5% or more for which the lock-up applies.

- Qualified investors categories

Additional Information

Financial advisor

Alkhair Capital

Legal Adviser

Al Saleh & Al Sahli

For More IPOs

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