20 Hrs
Source:
الاقتصادية
Source: الاقتصادية
20 Hrsالاقتصادية
Source: الاقتصادية
20 HrsReady to play
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The board of AlJada First Real Estate Development Company has approved a move from the Nomu Parallel Market to the Main Market (TASI), subject to approval by the Saudi Exchange and fulfilment of listing requirements. An initial assessment found that 7 of the 11 requirements had been met. The main challenges are increasing public ownership to 30%, from the current 22.99%, and meeting liquidity requirements. The shareholder base comprises 583 investors, of whom 361 meet the criteria, compared with a requirement of 600. The company’s average market capitalisation over the past 12 months was SAR 1.116 billion, above the minimum threshold of SAR 200 million. Next steps include fulfilling the outstanding requirements and preparing the transition document before submitting the application and obtaining the necessary approvals.
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