CMA approves National Environmental Recycling registration for direct listing on Nomu

30/03/2022 ِ Argaam

Logo of Environmental Recycling Co. (Tadweeer)

Saudi Arabia’s Capital Market Authority (CMA) approved, today, March 30, the application of National Environmental Recycling Co. (Tadweeer) for direct listing on Nomu-Parallel Market.

 

Trading these shares will be limited to qualified investors, the market regulator said in a statement.
 

The approval of the application will be valid for six months from the CMA board resolution date.
 

The approval will be deemed cancelled if the listing of the company's shares is not completed within this period.

 

Tadweeer is a Saudi company specialized in the recycling of waste electrical and electronic equipment.

 

CEO Nasser Aldueb earlier told Argaam that the company reported revenue growth in 2021, expecting its profit to jump between 35% and 40% year-on-year.

 

The company has recycled 135,000 tons since its inception and almost 35,000 tons of electronic and electrical appliances in 2021.

 

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