MIS 50%-owned Edarat Telecommunication applies to CMA for direct listing on Nomu

Logo of Al Moammar Information Systems Co.

Al Moammar Information Systems Co. (MIS) announced that its 50%-owned associate, Edarat Telecommunication and Information Technology Co., submitted an application to the Capital Market Authority for direct listing on Nomu Parallel Market.

The company said in a bourse statement that the expected completion date is subject to adequate review and study, and fulfillment of any observations or requirements that may be received from the competent authority.

There is no financial impact at present, Al Moammar noted.

According to data compiled by Argaam, MIS announced in October 2020 the intention of the board of directors of Edarat Telecommunication and Information Technology Co. to start taking the necessary measures to list the company on Nomu.

The company announced on Jan. 26, 2021 that Edarat appointed FALCOM Financial Services as financial advisor for the planned direct listing.

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