Naqi Water says major shareholders not to dispose of shares for one year

Naqi Water’s production line

Naqi Water Co. received today, May 21, letters from major shareholders who own nearly 70% of the company's capital, confirming their full commitment not to dispose of their shares for one year, according to Tadawul statement.
 

The major shareholders confirmed that they will not sell, waive, or transfer their shares for one year starting from the dates of letters.

According to data available with Argaam, the ban on Naqi major shareholders was lifted on Feb. 14, six months after the stock began trading on the Saudi Exchange (Tadawul) on Aug. 15, 2022.
 

A ban was imposed on the company's major shareholders who own 70% of its capital starting from its debut date. During this period, they were not allowed to dispose of their shares.
 

After the lifting of the ban, the major shareholders can dispose of their shares without prior consent from the Capital Market Authority (CMA).