Tadawul nods Alwasail Industrial’s transfer to TASI

Logo of Alwasail Industrial Co.

Saudi Exchange (Tadawul) issued a decision on Dec. 31, approving Alwasail Industrial Co. request to transfer from Nomu – the Parallel Market – to the Main Market.

In a statement published on Tadawul, the company said that trading on Alwasail’s shares will continue on Nomu until the end of the transfer document publication period.

Accordingly, it must publish the transfer document within three trading sessions following the announcement of Tadawul’s approval of the transfer request.

The transfer document will be made available to the public for review on the websites of Alwasail, Tadawul, and the financial advisor for a period of 10 trading sessions.

Trading on the company’s shares will be suspended starting from the trading day following the end of the transfer document publication period, for a duration not exceeding five trading sessions, in order to commence the transfer procedures.

Tadawul will announce the suspension date and the start date for listing Alwasail’s shares on TASI once all procedures are completed.

In December 2023, Alwasail’s board of directors approved the transfer from Nomu to TASI.

The company submitted the transfer request in June 2024 but later withdrew it in August 2024 due to the non-completion of certain requirements.

The company recently resubmitted its request to transfer from Nomu – the Parallel Market – to the Main Market - TASI.

Alwasail’s shares were listed and began trading on Nomu in January 2022. The company’s current capital stands at SAR 250 million, divided into 250 million shares, with a nominal value of SAR 1 per share.