Tadawul to end lock-up period for Alkhorayef Water major shareholders today

Logo of Alkhorayef Water and Power Technologies Co.

The Saudi Exchange (Tadawul) will lift by the end of session today, Aug. 31, the lock-up period imposed on Alkhorayef Water and Power Technologies Co.'s (AWPT) major shareholders after six months of listing on March 1.

The company's major shareholders, who own 5% or more of the shares, namely, Alkhorayef Group Co. and Alkhorayef Development Co., were subjected to a six-month ban, starting from the date of trading of the shares in the market.

Upon the end of the lock-up period, major shareholders will not be required to obtain the prior approval from the Capital Market Authority (CMA) to sell their shares.

Alkhorayef Group is the largest shareholder in the company after the offering, with 51%, followed by Alkhorayef Development with 5%.