Tadawul approves Armah Sports transition to main market

Saudi Tadawul announced on Sunday its approval of Armah Sports Company’s request to transfer from the Nomu parallel market to the main market, with a capital of 328,591,660 riyals (SAR) and 32,859,166 shares.

This approval marks a significant milestone for the company and is one of the regulatory steps required to complete the transition to the main market.

According to approved procedures, Armah Sports shares will continue to trade on Nomu until the end of the transition document publication period. The company is required to publish this document within three trading sessions following the approval announcement, making it available to the public on the company’s, Tadawul’s, and the financial advisor’s websites for ten trading sessions.

After the publication period ends, trading of the company’s shares will be suspended for no more than five trading sessions to finalize the transition process. Tadawul will later announce the suspension date and the start date for listing and trading Armah Sports shares on the main market once all necessary procedures are completed.

The company emphasized that Tadawul’s approval of the transition request confirms that the company has met the regulatory requirements under the listing rules, but does not constitute an endorsement of the investment value of the company’s shares.

The request to move to the main market follows Armah Sports’ journey in the Saudi financial market, beginning with its listing and trading on Nomu in November 2023, and culminating in Tadawul’s approval as the company prepares to complete the procedures for listing and trading on the main market.