The Saudi Stock Exchange (Tadawul) approved the request of Arab Sea Information System Co. to transition its shares from the parallel market to the main market, according to a bourse statement.
A trading halt will be placed on the company shares as of today Sunday, April 12, for maximum 5 trading sessions to finalize the relevant procedures.
Tadawul will announce the listing start date of the company’s shares in the main market once the procedures are complete.
Arab Sea was listed on Nomu in February 2017 with SAR 100 million in capital, Argaam reported earlier.
In March this year, the company submitted a request to move to the main stock market after signing a memorandum of understanding (MoU) with KASB Capital to advise on its planned transition.
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