Edarat major shareholder sells 25% stake for SAR 61.5M

31/03/2024 Argaam

Edarat Communication and Information Technology Co. received a letter, on March 28, from Al Moammar Information Systems Co., one of the company’s major shareholders, on selling 25% of its stake amounting to 40% of the former's capital.

 

The SAR 61.49 million deal will aid in fulfilling a prerequisite for transitioning to the main market (TASI), specifically the need for liquidity.

 

Consequently, this move will bring about a shift in the ownership structure among the company's major shareholders, the statement added.

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