Tadawul approves Riyadh Cement’s transition to TASI

Logo of Riyadh Cement Co.

Tadawul approved today, Nov. 14, Riyadh Cement Co.’s request to transfer from the Nomu-Parallel Market to the main market, with a capital of SAR 1.2 billion, divided into 120 million shares.

The company's shares will continue to trade on Nomu until the period of the transfer document publication ends, Tadawul said in a statement.

Accordingly, Riyadh Cement must publish the transfer document within three trading sessions following the approval announcement.

The transfer document will be made available to the public on the websites of Riyadh Cement, Tadawul, and the financial advisor for 10 trading sessions.

Trading on Riyadh Cement’s shares will be suspended from the day following the end of the publication period for five trading sessions maximum to start transition procedures.

The listing date on the main market will be disclosed once the procedures are completed.

Tadawul advised investors to thoroughly examine the disclosed information and transition document, and to consult a licensed financial advisor for clarity before making investment decisions.

Tadawul’s approval should never be considered as a recommendation to invest in Riyadh cement shares.

Riyadh Cement, listed on Nomu since September 2020 with SAR 1.2 billion capital, applied for main market transition in June 2023 after board approval in June 2022, according to data compiled by Argaam.