Naseej Communication announces registration document to list on Nomu; sets price guidance at SAR 70/share

Logo of Naseej for Communication and Information Technology Co.

Naseej for Communication and Information Technology Co. announced the registration document for listing its shares on Nomu Parallel Market.

The company set the price guidance for trading its shares on Nomu at SAR 70.

On March 28, the Capital Market Authority (CMA) approved the company’s application to list its shares on Nomu Parallel Market, Argaam reported earlier.

Naseej for Communication and Information Technology Co. was established in Riyadh as a sole proprietorship in 1989. In 1995, it was transformed into a limited liability company, and in September 2021 into a closed joint stock company, with a current capital of SAR 50 million.

The company's current activity is computer programming activities, computer consultancy activities, computer facilities management, artificial intelligence technologies, augmented virtual reality technologies, big data technologies, data science and analysis, information technology services, and the sale of computers, computer peripheral equipment and software.

Company Shareholders
Shareholders	Before the direct listing
Shareholders	Number of shares (‘000)	Ownership (%)
Abdul Jabbar Abdulrahman Mohammed Al Abdul Jabbar	2024.0	40.48%
Mohammed bin Abdullah bin Adwan	1012.0	20.24%
Abdullah Awad Ayed Al-Tarifi	352.0	7.04 %
Abdullah bin Abdulaziz bin Adwan	151.0	3.02%
Abdulrahman Al Abdul Jabbar	8.0	0.16%
Abdulaziz Saleh Abdullah Alrabdi	8.0	0.16%
Latifa Ayad Alshammari	7.5	0.15%
Suad Abdulaziz Al-Ohali	6.0	0.12%
Nawaf bin Mohammed bin Adwan	6.0	0.12%
Al-Jawhara bint Abdulaziz bin Muammar	3.0	0.06%
Public (62 shareholders)	1422.5	28.45%
Total	5000.0	100.00 %

Company Profile
Company	Naseej for Communication and Information Technology Co.
Market	Nomu Parallel Market
Core Activities	Computer programming, computer consultancy and facilities management activities
Status	Active
Capital	SAR 50 mln

Direct Listing Profile
Number of shares	5 mln shares
Share par value	SAR 10
Share price guidance upon listing	SAR 70
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.
Qualified investors	- Current shareholders (except for owners of 5% or more, to whom the lock-up period shall apply). - Qualified investors categories

Additional Information
Financial Advisor	Al Rajhi Capital
External Auditor	Dr. Mohamed Al-Amri & Co.

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