Tadawul approves Armah Sports transition to main market

Saudi Tadawul has granted its approval for Armah Sports to transition from the Nomu parallel market to the main market. The company's capital stands at SAR 328.6 million, accompanied by 32.86 million shares. This decision was communicated by Saudi Tadawul on Sunday, marking a crucial step in Armah Sports' progress within the Saudi financial market.

This approval is one of the regulatory prerequisites necessary to finalize the shift to the main market. Until the transition's completion is documented and published, Armah Sports shares will continue trading on Nomu. This document must be made accessible to the public within ten trading sessions of approval, following its publication by Armah Sports, Tadawul, and the financial advisor within three trading sessions post-approval announcement.

Post-publication, trading of Armah Sports shares will be halted for a maximum of five trading sessions to complete the transition. Once all procedures are finalized, Tadawul will announce the exact suspension date and the commencement date for listing and trading Armah Sports shares on the main market.

The approval from Tadawul validates that Armah Sports has fulfilled the regulatory requirements stipulated by the listing rules. However, this approval does not imply an endorsement of the investment value of the company's shares. The transition journey for Armah Sports began in November 2023 when the company listed and began trading on Nomu, and it is now set to conclude with its listing and trading on the main market.