Yaqeen Capital to arrange PTC’s potential TASI listing

Logo of Yaqeen Capital

Yaqeen Capital signed an agreement today with Power Tower Co. (PTC) to arrange the initial public offering (IPO) of its shares and subsequent listing on the Main Market (TASI).

In a statement to Tadawul, the company said that the offering and listing of shares will go through several phases, starting from the signing date of the agreement and continuing until obtaining approvals from the Capital Market Authority (CMA) and the actual listing of the shares on the main market.

Yaqeen Capital will generate financial revenues from this agreement, depending on the progress of the various stages, obtaining CMA approval, and the successful completion of the offering and listing.

Upon completion of all stages, the revenues generated from the transaction will exceed 5% of Yaqeen Capital’s total revenues, based on the latest audited annual financials for 2024, the statement added.