CMA approves registration of Keir International for direct listing on Nomu

Logo of Keir International Co.

The Capital Market Authority (CMA) approved, today, May 25, the application of Keir International Co. to register its shares for direct listing on Nomu-Parallel Market.

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

Prospective qualified investors should conduct their own due diligence on the information disclosed in the registration document.

The approval on the application will be valid for six months from the CMA Board resolution date, according to a statement.

Keir actively implements fiber-optic projects. It is the preferred technical contractor for external and internal network solutions for several government and private sectors, especially those related to the implementation of electricity, smart city systems solutions and safe cities projects. This also includes the supply of SIM cards, fiber-optic cables and fiber-optic network distribution materials. 

The company also carries out the electrical services project for Riyadh Metro, which includes the delivery of electricity to metro stations. The project was awarded by Saudi Electricity Co. (SEC). 

This is one of the several projects that the company has completed or is still implementing for SEC. Keir successfully participated in the implementation of the unified contract project since 2014. This project includes excavation works and electrical installations of low and medium-voltage lines of the ground and aerial networks up to 36 kV. It also includes the installation of meters for subscribers, as well as maintenance and emergency works for fault repairs. The project contract is renewed every five years.