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Saudi Arabia’s View United Real Estate Development Company is seeking approval from the kingdom’s Capital Market Authority to transition its shares from the Nomu Parallel Market to the Main Market (Tadawul).
The real estate firm started trading on Nomu in December 2023 following a 600,000-share offering for qualified investors, representing 18.18% of the company’s post-IPO capital.
In April, the company’s board of directors approved a capital raise through bonus shares to its shareholders to 66 million Saudi riyals ($17.6 million) from 33 million.
(Writing by Bindu Rai, editing by Seban Scaria)
