The Saudi Stock Exchange (Tadawul) approved the request of Al-Samaani Factory for Metal Industries Co. to transfer its shares from the parallel market to the main market, according to a bourse statement on Thursday.

 

A trading halt will be placed on the company shares as of Sunday, Dec. 6, for maximum five 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.

 

Early in November, Al-Samaani submitted a request to the Capital Market Authority (CMA) for transition to the main market.

 

Al-Samaani was listed on Nomu in February 2017 with SAR 25 million in capital, Argaam reported earlier.

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