Amiantit says East Gas begins Nomu listing measures

18/11/2021 Argaam

Saudi Arabian Amiantit Co.’s headquarters

Saudi Arabian Amiantit Co. announced receiving a letter on Nov. 17 from the Chairman of East Gas Co. (EGC), informing it about the shareholders’ approval for taking the necessary measures to list the company on Nomu Parallel Market.

 

Arbah Capital was appointed as financial advisor for the process, Amiantit said in a bourse statement today, Nov. 18. 

 

The impact cannot be measured currently, as it will only be determined after submitting the file and obtaining the approval of the regulatory and supervisory authorities.

 

Applying for listing is subject to the requirements and approvals of the regulatory and supervisory authorities in Saudi Arabia, including the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), the Ministry of Commerce and any other regulatory authority.

 

Amiantit holds a 13% stake in EGC.

 

On Nov. 17, Saudi Paper Manufacturing Co. (SPM) and National Gas and Industrialization Co. (GASCO) announced receiving a letter from the Chairman of East Gas regarding the approval to start taking the necessary measures to list the company on Nomu Parallel Market.

 

GASCO owns 35% stake in East Gas while Saudi paper holds a 26% stake.

 

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