Sunday, August 20, 2023 at 9:22 AM
The Saudi Exchange announces the issuance of its resolution dated 04/02/1445H, corresponding to 20/08/2023G approving Sumou Real Estate Co. request to transfer from Nomu - Parallel Market to the Main Market, with a capital of SAR 375,000,000 and 37,500,000 shares.
The company's shares will continue to be traded in Nomu - Parallel market until the end of the period for publishing the transfer document, accordingly, the issuer must publish the transfer document within three trading sessions following the announcement of Saudi Exchange's approval of the transfer request. The transfer document will be available to the public for viewing on the websites of the issuer, Saudi Exchange and the financial advisor for a period of ten trading sessions.
Accordingly, the trading of the issuer's shares will be ceased starting from the day following the end of the period for publishing the transfer document for a period not exceeding five trading sessions, and the transfer procedures will begin.
Saudi Exchange will also announce the suspension and start date of listing the issuer's shares in the main market as soon as the procedures are completed.
Investors must search and study the information disclosed and the information mentioned in the transfer document. In the event that it is not possible to understand the contents of the transfer document, it is preferable to consult an authorized financial advisor before making any investment decision.
The Saudi Exchange’s approval of the transition request should never be considered as a recommendation to invest in the company shares. The Saudi Exchange’s approval of the transition request merely means that imposed requirements as per the Listing Rules were met by the company.
