Tadawul nods to Jahez, Banan transition to TASI

Tadawul trading screen

The Saudi Exchange (Tadawul) approved today, Nov. 18, Jahez International Company for Information System Technology and Banan Real Estate Co.'s requests to move from the Nomu-Parallel Market to the Main Market (TASI).

Tadawul said trading in the two companies on Nomu will continue until the deadline for publishing the transfer document.

It added that issuers must publish the transfer document within three trading sessions after the approval of the transfer request. The documents will be available to the public on the websites of the issuers, Tadawul, and the financial advisor for 10 trading sessions.

Trading in the two companies' shares will be suspended starting the day after the deadline for publishing the transfer documents, for up to five sessions prior to their transition to TASI.

Tadawul will disclose the suspension date and the start of listing the two companies’ shares on TASI once the procedures are completed.

According to data available on Argaam, Jahez and Banan’s board of directors recently approved the transition to TASI.

Banan, which has SAR 200 million in capital, started trading as a direct listing on Nomu in August 2021. Jahez debuted on Nomu in January 2022 with a capital of SAR 104.92 million.

Jahez and Banan Real Estate closed yesterday's session at SAR 34.95 and SAR 7.24, respectively.