‎Tadawul rejects Obeikan Glass, Saudi Azm requests for transition to Main Market

The Saudi Exchange (Tadawul) announced today, Sept. 8, its rejection of the requests byObeikan Glass Co.andSaudi Azm for Communication and Information Technology Co.to transfer from the Nomu-Parallel Market to the Main Market.

The decision was taken as the two companies failed to meet all transition requirements stipulated in the listing rules.

In Dec. 2023, Obeikan Glass’ board of directors approved transferring the company’s shares from the Nomu-Parallel Market to TASI, according to data available to Argaam.

Advertisement

Meanwhile, the board of directors of Saudi Azm approved the transition in April 2024.

Last December, Obeikan Glass submitted a request to transfer from the Nomu-Parallel Market to the Main Market, while Saudi Azm submitted a request to transfer last June.

The Saudi Exchange (Tadawul) announced today, Sept. 8, its rejection of the requests byObeikan Glass Co.andSaudi Azm for Communication and Information Technology Co.to transfer from the Nomu-Parallel Market to the Main Market.

The decision was taken as the two companies failed to meet all transition requirements stipulated in the listing rules.

In Dec. 2023, Obeikan Glass’ board of directors approved transferring the company’s shares from the Nomu-Parallel Market to TASI, according to data available to Argaam.

Meanwhile, the board of directors of Saudi Azm approved the transition in April 2024.

Last December, Obeikan Glass submitted a request to transfer from the Nomu-Parallel Market to the Main Market, while Saudi Azm submitted a request to transfer last June.