Saudi Exchange Approves Transfer of Jahez and Banan to the Main Market

The Saudi Exchange announced today, Monday, its approval for Jahez International for Information Systems Technology and Banan Real Estate Company to transfer from the parallel market "Nomu" to the main market "TASI". This transition highlights the companies' improved performance and their compliance with the main market's listing requirements.

According to the statement, Jahez has a capital of 104.92 million SAR distributed over 209,836,060 shares, while Banan Real Estate has a capital of 200 million SAR distributed over 200 million shares.

The Saudi Exchange clarified that the shares of both companies will remain traded in the parallel market until the required transfer document is published. This document must be made public within three trading sessions from the approval announcement and will be accessible for ten trading sessions on the websites of the companies, the Saudi Exchange, and the financial advisor.

Furthermore, trading in the shares of the two companies will be temporarily suspended starting the day after the document publication period ends, for a maximum of five trading sessions, to finalize the transfer procedures. The Saudi Exchange will announce the suspension date and the timeline for the listing of the companies on the main market once all regulatory requirements are completed.

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