Tadawul approves Obeikan Glass move to Main Market

Logo of Obeikan Glass Co.

The Saudi Exchange (Tadawul) approved today, June 29,Obeikan Glass Co.'s request to transfer its shares from the Nomu–Parallel Market to the Main Market.

The company has SAR 320 million in capital of, divided into 32 million shares.

For more news on listed companies

Obeikan Glass will continue trading on Nomu until the end of the transition document publication period. The company is required to publish the transition document within three trading sessions following Tadawul’s approval.

The document will be available to the public for 10 trading sessions. A trading halt will then be imposed on the company’s shares starting from the day after the publication period ends, for no more than five trading sessions, to complete the transfer process.

The dates for both the trading suspension and the Main Market debut will be announced in due course.

Obeikan Glass resubmitted its transfer application on May 23. Tadawul had previously rejected the company’s request in January for not meeting all the transition requirements set out in the listing rules, according to data compiled by Argaam.

The stock last closed at SAR 31.10 on Nomu.