Edarat shares debut on Nomu today

Logo of Edarat Group

Edarat Communications and Information Technology Co. (Edarat) will begin trading on Nomu-Parallel Market today, Dec. 26, with the symbol 9557 and ISIN Code SA15M4M4LAH3.

Shares will trade with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits, as the company is planning to meet the liquidity requirements with a liquidity provider.

On Nov. 28, the Capital Market Authority (CMA) gave the go-ahead to Edarat for a direct listing on Nomu.

In November, Edarat published its registration documents, setting per share guidance price at SAR 300.

Edarat’s is the 31th IPO on Nomu since the beginning of the year, including 13 direct listings and 18 listings for qualified investors.

This listing brings the number of Nomu-listed companies to 45, in addition to Alwaha REIT Fund.

Company Info:

Edarat was established in 2008 in Riyadh as a closed join stock company. It is a 50%-owned subsidiary of Al Moammar Information Systems Co. (MIS) that is listed on the Saudi Exchange (Tadawul).

The company provides the services of internet-of-things (IoT) operators. Leasing telecommunications infrastructure, system analysis, and management of telecommunications networks. It also establishes infrastructure for hosting websites on networks, and provides services for data preparation and registration for cloud computing services.

Company Profile
Company	Edarat Co. for Communication & Information Technology (Edarat)
Market	Nomu-Parallel Market
Core Activities	Operation of IoT networks, leasing of telecommunications infrastructure, system analysis, etc.
Status	Active
Capital	SAR 6.3 mln

Direct Listing Profile
Number of shares	630,000 shares
Share par value	SAR 10
Share price guidance upon listing	SAR 300
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	- Qualified investors. Current shareholders (except for major shareholders owning of 5% or more, to whom the lock-up period shall apply).

Shareholders	Before Direct Listing		After Direct Listing & Liquidity Plan
Shareholders	Number of shares (‘000)	Ownership (%)	Number of shares (‘000)	Ownership (%)
MIS	315.00	50.00%	252.00	40.00%
Adel Fouad Rizk	105.00	16.66%	84.00	13.33%
Erick Ernest Albadawi	105.00	16.66%	84.00	13.33%
Ghassan Adel Alkhazen	105.00	16.66%	84.00	13.33%
Qualified investors	--	--	126.00	20.00%
Total	630.00	100%	630.00	100%

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