Saudi Tadawul to move Nomu-listed Raydan to main market
Trading the stock will be suspended for no more than 5 sessions
An investor walks at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016.
REUTERS/Faisal Al Nasser
By Staff Writer, Mubasher
Riyadh – The Saudi Stock Exchange (Tadawul) announced has approved Raydan Food Company’s request to transfer from the Parallel Market (Nomu) to the main market (Tadawul), according to a statement on Sunday.
Accordingly, the trading of the company's shares will be ceased from today, Monday 18 November, to start with the transfer procedures, for a period not exceeding five trading sessions.
Moreover, the Saudi exchange said that it will announce the listing start date of the company’s shares once the needed procedures are complete.
Raydan’s capital stands at SAR 225 million, distributed over 22.5 million shares.
The stock ended Sunday’s trading session down 15.16% at the level of SAR 18.80.
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