Logo of Banan Real Estate Co.
Banan Real Estate Co. will list and start trading on the Main Market (TASI) today, Dec. 9, under the symbol 4324 in the real estate management and development sector.
The stock will have a 10% daily price fluctuation limit.
On Nov. 18, Tadawul approved Banan’s application to transition from the Nomu-Parallel Market to TASI, with SAR 200 million in capital, divided into 200 million shares, at a par value of SAR 1 a share, according to data available with Argaam .
The stock’s last price on Nomu was SAR 8.25, which will be its opening price on TASI.
Banan will bring the number of TASI-listed companies to 227, excluding 19 REITs. The number of companies listed on Nomu would drop to 104, excluding Alwaha REIT Fund.
Company Profile:
Banan was incorporated in 2005 in Riyadh, with current capital at SAR 200 million divided into 200 million shares.
The company’s core activity is the management and lease of owned or rented residential and commercial real estate, in addition to hotel apartments. Banan also provides real estate management services for a commission, and registration services.
Banan started trading as a direct listing on Nomu in August 2021, with the price guidance set at SAR 15 per share.
In June 2023, Banan reduced the stock nominal value from SAR 10 per share to SAR 1.
Transition Details
Item
Nomu
TASI
Capital (SAR mln)
200
200
Number of shares (mln)
20
200
Nominal value
10
1
Sector
Real estate management and development
Real estate management and development
Daily fluctuation limit
30%
10%
Listing price (SAR)
15.00
8.25
Eligible traders
Qualified investors
Any Saudi or foreign person, entity, institution, or fund authorized by the Capital Market Law and its regulations to own and trade securities
The following table details companies that have transitioned from Nomu to TASI:
Details of Companies’ Transition to Main Market
Company
Board Approval
Transfer Application
Official Approval
Listing Shares on TASI
Al Kathiri
Oct. 9, 2019
Oct. 15, 2019
Oct. 28, 2019
Nov. 3, 2019
Thob Al Aseel
Oct. 6, 2019
Oct. 16, 2019
Nov. 4, 2019
Nov. 10, 2019
Abo Moati
Oct. 6, 2019
Oct. 16, 2019
Nov. 4, 2019
Nov. 11, 2019
Raydan
Oct. 8, 2019
Oct. 29, 2019
Nov. 17, 2019
Nov. 21, 2019
Baazeem
Oct. 7, 2019
Nov. 14, 2019
Nov. 28, 2019
Dec. 4, 2019
Arab Sea
Oct. 9, 2019
March 17, 2020
April 12, 2020
April 15, 2020
Al-Omran
Feb. 16, 2020
June 15, 2020
July 15, 2020
July 21, 2020
Sadr
Sept. 27, 2020
Nov. 2, 2020
Dec. 3, 2020
Dec. 10, 2020
Development Works Food
Sept. 12, 2021
Nov. 4, 2021
Nov. 17, 2021
Nov. 23, 2021
Sumou
May 15, 2022
May 24, 2023
Aug. 20, 2023
Sept. 7, 2023
Riyadh Cement
June 29, 2022
June 18, 2023
Nov. 14, 2023
Dec. 5, 2023
Burgerizzr
Oct. 12, 2023
June 13, 2024
Oct. 13, 2024
Nov. 4, 2024
Banan
July 4, 2023
June 4, 2024
Nov. 18, 2024
Dec. 9, 2024
Under the amended listing regulations issued by the CMA, companies wishing to transfer from Nomu to TASI are obliged of the following:
1) Firms may only apply to transfer to the Main Market after two calendar years from listing on Nomu.
2) The average aggregate market value of the transferred shares must be at least SAR 200 million in the six-month period prior to the submission of application.
3) An issuer must disclose to the public the board report that includes all related information, before submitting the application.
4) Submitting the board of directors’ approval on the transfer before the beginning of the trading session that follows the approval.
5) The issuer must disclose the transfer to the public upon submitting the application.
Trading on the issuer’s shares will be suspended for a period not exceeding five trading sessions before debuting on the Main Market.
