“Saudi Tadawul” agrees to transfer “Development Food” to the main market

Saudi Tadawul today revealed its approval of the Food Development Business Company’s request to switch from the parallel market to the main market, with capital of 30 million riyals, and 3 million shares.

And the “Saudi Tadawul” declared that, consequently, the trading of the shares of the company “Development Food” will be suspended, starting from Thursday 18 November 2021, to start the transfer procedures, for a period not exceeding 5 trading sessions. negotiation. .

Saudi Arabia Tadawul will announce the start date of the company’s stock listing on the main market as soon as the procedures are completed.

He continued: “Market approval of the transfer request should not be seen as an approval of the feasibility of investing in the company’s shares. The approval decision means that the company has complied with all legal requirements under the listing rules “.

The Food Development Company had made a request to move to the main market more than once, and Saudi Arabia’s Tadawul rejected the request for not meeting the requirements.

“Development Food” is a public limited company, listed on the parallel market (Nomu) since February 2017. It was established in June 2010 and operates in the consumer services sector with a focus on catering.

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