Saudi Azm Telecom & IT Publishes Registration Document

The Saudi Azm Telecom and Information Technology company announced the listing document for direct listing on the parallel market NOMU, at an indicative price of SR70.

The company’s activities, according to the commercial registry data, are providing senior management consulting services, repairing, and maintaining personal and laptop computers of all kinds, selling wired and wired equipment and devices.

Trading stocks is limited to the current shareholders (except for senior shareholders who have (5%) or more than their capital and those who apply during the prohibition period.

Qualified and eligible investors: for a period of 12-month from the date of the start of trading, in the shares on the parallel market, and after the end of this period, they may dispose of their shares, without obtaining the prior approval of the Capital Market Authority (CMA).

They are as follows:

 Financial market institutions acting for their own interest.

Customers of a licensed financial market enterprise, practicing administration work, provided that the CMA has appointed their conditions that enable them to make decisions to accept participation in the offering and investment on NOMU – the parallel market on behalf of the customer without the need for previous approval.

 The Kingdom’s government, or any governmental body, or any international body recognized by the CMA, the stock exchange or any other financial market recognized by the CMA, or the Securities Depository Center Company “Id’aa Center”.

 Companies owned by the government, directly or through a portfolio managed by a financial market institution licensed to engage in management activities.

 Companies and funds established in the Cooperation Council for the Arab States of the Gulf (GCC) member states.

 Investment funds.

 Non-resident foreigners, who are allowed to invest in the parallel market and who fulfill the requirements stipulated in the indicative guide for non-resident foreigners, investing on the parallel market.

 Qualified foreign financial institutions.

 Any other legal persons who may open an investment account, in the Kingdom and an account with the Depository Center.

 Natural persons who hold the nationality of a country that apply regulatory and control standards, like those applied by the CMA or acceptable to it, and he may open an investment account or an account at Depository center.

Shall have conducted transactions on stock exchange (s) with a total value of not less than SR40 million and no less than 10-transaction, in each quarter of a year, during the past 12-month.

His net assets shall not be less than SR5 million.

Shall work or have worked for at least 3- year in the financial sector.

Shall have hold the General Certificate for Dealing in Securities approved by the “1-CME.”

Shall have a professional certificate specialized in the field of securities business, approved by an internationally recognized body.

 Any other person (s) specified by CMA.