14 Hrs
Source:
الاقتصادية
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Source: الاقتصادية
14 Hrsالاقتصادية
Source: الاقتصادية
14 HrsReady to play
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The Board of Directors of First Avenue Real Estate Development Company has approved a move from the Parallel Market (Nomu) to the Main Market (TASI), subject to approval by the Saudi Exchange and fulfillment of listing requirements. An initial assessment found that the company meets 7 of the 11 requirements. The main hurdles are increasing public ownership to 30%, from 22.99% currently, and raising the number of shareholders who meet the liquidity criteria from 361 to 600. The company’s average market capitalization over the past 12 months was SAR 1.116 billion, exceeding the minimum threshold of SAR 200 million. The company will complete the liquidity requirements, prepare the transition document and appoint advisers before publishing the Board of Directors’ report at least 30 days prior to submitting its application.
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