Tadweeer starts trading on Nomu today

Logo of National Environment Recycling Co.

National Environment Recycling Co. (Tadweeer) will begin trading on Nomu-Parallel Market today, May 26, with the symbol 9540 and ISIN Code SA15IH0KL210.

The stock will have daily price fluctuation limits of ±30% and static fluctuation limits of ±10%.

On March 30, the Capital Market Authority (CMA) approved the company’s application to register its shares for direct listing on Nomu, according to data compiled by Argaam.

Tadweeer announced, in April, the registration document for listing its shares on Nomu and set price guidance at SAR 65 per share.

The listing is the 14th on Nomu this year, which included seven direct listings and seven IPOs to qualified investors.

Tadweeer was established in 2015 in Riyadh as a closed joint stock company. Its capital currently stands at SAR 58.08 million.

The company mainly operates in the recycling of electronics and electrical waste, in accordance with approved environmental standards issued by the supervisory authorities. It aims to produce various raw metals from the waste of electronics and electrical devices as per a business model that is compatible with the Kingdom's environmental protection regulations.

The firm crushes and sorts these devices and separates mixed metals through techniques based on artificial intelligence, which results in various metals of high purity, such as copper and aluminum metals of all kinds, stainless steel, nickel, chromium, iron and plastic, electronic panels that contain precious metals such as gold and silver, and other various types of hard metals. The company sells those minerals, which vary in purity between 80-99%, to the local and global markets.

The main activities are as follows: Manufacturing industries and their branches according to industrial licenses, construction and building, transportation, storage and refrigeration, social, collective and personal services, and trade.