Saudi Arabia-based KnowledgeNet is looking to move its listing from Nomu to the Saudi Stock Exchange (Tadawul) main market.

The technology firm confirmed on Tuesday that its board of directors has just approved the plan to transfer the listing, which is expected to boost its visibility to a wider investor base.

Amwal Financial Company has been appointed advisor to complete the requirements for the listing transfer.

The board recently recommended a 50% capital increase from SAR 35 million to SAR 52.5 million to support the firm’s strategic growth plan.

The company is a provider of software development and IT solutions, with a specialised focus on the financial services industry and fintech. It is also involved in the wholesale and retail of computers and other activities related to the information and communication (ICT) sector.

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com