Logo of Gas Arabian Services Co. (GAS)
Gas Arabian Services Co. (GAS) received today, March 10, letters from five major shareholders on selling a 10% stake to several investors through negotiated deals.
In a statement to Tadawul, the company said the shareholders are GAS Al Khaleej for Trading and Contracting Co., GAS Asia for Trading and Contracting Co., Future Cooperation Co. Ltd., Future Generation Co. Ltd. (a sole proprietorship), and Future Prospects for Operation and Maintenance Co.
The sale will aid in fulfilling a prerequisite for transitioning to the main market (TASI), specifically the need for liquidity. Consequently, this move will bring about a shift in the ownership structure among the company's major shareholders, the statement added.
According to data available on Argaam, GAS witnessed today 116 negotiated deals, amounting to nearly SAR 120 million, on approximately 15.8 million GAS shares.
The deals accounted for almost 10% of the company's total 158 million shares.
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