Saudi Azm board approves transition to Main Market

21/04/2024 Argaam

Saudi Azm board approves transition to main market

Logo of Saudi Azm for Communication and Information Technology Co.

Saudi Azm for Communication and Information Technology Co.’s board of directors approved, on April 18, the company’s transition from the Nomu-Parallel Market to the Main Market (TASI), according to a statement to Tadawul.

 

The company hired Al Rajhi Capital as financial advisor for the process.

 

The transition to the main market is subject to the approval of the Saudi Exchange (Tadawul) and the fulfillment of the other listing requirements.

 

Saudi Azm will duly reveal any relevant updates, the statement added.

 

The stock started trading on Nomu in March 2022 with SAR 30 million in capital, data compiled with Argaam showed.

 

The company’s shareholders approved a stock split in June 2023, reducing the share’s par value from SAR 10 to SAR 0.5 per share.

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