Shares of Obeikan Glass Co. start trading on Nomu Parallel Market today, Feb. 7, with the symbol 9531 and ISIN Code SA15GG54KTH8.
In December 2021, the Capital Market Authority (CMA) approved the application of Obeikan Glass Co. to register its shares on Nomu, Argaam earlier reported.
The company published, on Jan. 17, the registration document for its planned direct listing on Nomu. The price guidance was set at SAR 68.
This is the second direct listing on Nomu in 2022, after AME Company for Medical Supplies in January.
Obeikan Glass was established in Riyadh as a closed joint stock company, under the Articles of Association dated Dec. 23, 2006, Ministerial Resolution dated Sept. 9, 2007 and the minutes of the Constituent Assembly dated November 2007, The company’s current capital is SAR 240 million.
The company manufactures, produces, and sells clear float glass and safety glass.
As per its commercial register, Obeikan Glass is specialized in the wholesale of glass panels and chemicals, as well as retail trade of glass panels. The firm’s activities, as per its Articles of Association, include manufacturing and production of the different kinds of glass, as well as wholesale and retail trade of a full range of glass and raw materials used in the manufacturing of glass and relevant accessories. It also manufactures, chops, colors and installs glass, in addition to establishing and managing related mining quarries.
According to its registration document, Obeikan Glass targets global markets, as it exports its products to customers in different countries in Asia, Europe, Africa, North America and South America. It also continues to develop and maintain the quality of its products and work to improve the efficiency of operational processes.
In addition, the company relies on a main production line for the manufacturing of clear flat glass, and part of this glass is transferred to a sub-production line, through which clear flat glass is processed to safety glass.
The following is an explanation of the company’s segments:
Main production line (cleat float glass production): It produces transparent flat glass, with a maximum production capacity of 800 tons per day, with different sizes and thicknesses ranging between 3 and 12 millimeters (mm). The transparent flat glass is used in various fields, such as doors, windows and facades of shops and buildings.
Sub-production line (safety glass): The company can transfer approximately 40% of the total transparent flat glass production to the sub-line. It started to produce safety glass in 2020.