Tadawul ends lock-up period for Ataa Educational shareholders

The Saudi Stock Exchange (Tadawul) lifts today Jan. 30 the lock-up period imposed on Ataa Educational Co.’s major shareholders, after 6 months of listing.

According to the Capital Market Authority’s (CMA) rules, major shareholders are prohibited from selling the stock for a period of no less than 6 months from the listing date.

Founding shareholders, who own 61.61% of the company’s capital, must notify and obtain the CMA’s approval before selling their shares on Tadawul, regardless of the ban ending period.

National Advanced Ebdaa Trading Co. is the major shareholder in Ataa Educational with a 26.6% stake, while RZM Investment comes second holding a 19.89% stake.