AOL names financial advisor for Nomu to Main Market transition

Academy of Learning will work with Estidamah Capital to fulfill all regulatory requirements necessary for the transition to TASI

Academy of Learning Co.’s (AOL) board of directors, on Jan. 15, appointed Estidamah Capital to advise on the company’s transition from the Nomu-Parallel Market to the Main Market (TASI), according to a statement to Tadawul.

The company will work with the financial advisor to fulfill all the regulatory requirements necessary for the transition in accordance with the Listing Rules.

The move is subject to approval by the Saudi Exchange (Tadawul) and meeting the requirements stipulated in the Listing Rules.

Any material developments in this regard will be announced in due course, the statement added.

On June 30, 2024, AOL board of directors approved the company’s transition from Nomu to TASI, data available on Argaam showed.

The company’s shares were listed and began trading on Nomu on July 18, 2022. AOL’s current capital stands at SAR 135 million, divided into 135 million shares, each with a nominal value of SAR 1.