The Clap
The parallel market (Nomu) saw the listing of “Edarat Group” with the trading code (9557).
What
Al Moammar Information Systems (7200) owns a 50% stake in Edarat.
The Capital Market Authority approved Edarat’s request to register its shares for direct listing in the parallel market.
The company revealed its registration document in “Nomu”, where it set the guiding price at SAR 300 per share.
So What
Edarat is the 31st listing in the parallel market during the current year.
The listings were distributed between 13 direct listings and 18 listings through an offering to qualified investors.
Now What
Edarat’s BoD recommended increasing the company’s capital by 100%, to SAR 12.6mn by issuing a portion of the retained earnings and awarding one share for each share.
