Thob Al Aseel been eyeing Tadawul transition; no need for capital hike: Chairman

Thob Al Aseel Co. has been aspiring to transition to the Saudi Stock Exchange (Tadawul) since its initial listing on Nomu-Parallel Market, after meeting all the regulatory requirements, Al Arabiya reported citing Chairman Faisal Al-Jedaie.

The firm’s current capital is enough to cover its activities, he said, adding that there is no need to hike capital.

The company has ‘good’ financials, as it relies on its own resources and does not need banking facilities, he also stated.

Yesterday, Thob Al Aseel’s board of directors approved the transition of the firm’s listing from Nomu to Tadawul, following the decision of the Capital Market Authority (CMA) to amend the listing regulations.