Company executives signing the agreement
Purity for Information Technology, a closed joint stock company based in Riyadh, announced that it appointed KASB Capital as a financial advisor for its potential listing on Nomu – Parallel Market.
The proposed listing will be after an initial public offering (IPO) that is subject to the regulatory approvals from the Capital Market Authority (CMA) and Saudi Exchange (Tadawul).
Purity is a Saudi company specialized in technical infrastructure solutions and managed services.
Purity Chairman Faisal Al-Abdulsalam said the listing is part of the company's plan to expand its business, as well as make acquisitions that contribute to maximizing its business and corporate governance, which will positively affect the firm’s workflow.
Purity CEO Abdullah Al Namlah said the listing has been part of the company’s strategy over the past
years. “The strategy aims to sustain the company’s business in all aspects, in line with Saudi Vision 2030.”
Majed Al-Hudaib, CEO of KASB Capital, confirmed that the information technology, wherein Purity operates, is one of the promising sectors that keeps pace with KASB Capital’s goals.
“This gives investors a great opportunity to invest in the field of technology,” he noted.
KASB Capital is a Riyadh-based financial institution established in 2007. Licensed by the CMA, the company has a capital of nearly SAR 230 million. It practices the activities of dealing and custody, investment management, fund operation and arrangement, and provision of securities advice.
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