Lock-up on Alsaif Gallery’s major shareholder ends today

02/07/2023 Argaam
Logo ofAlSaif Stores for Development and Investment Co. (Alsaif Gallery)

Logo of AlSaif Stores for Development and Investment Co. (Alsaif Gallery) 

The ban on AlSaif Stores for Development and Investment Co.’s (Alsaif Gallery) major shareholder, Suleiman bin Muhammad Alsaif, from selling shares lifted today, July 2 – six months after the stock began trading on the Saudi Exchange (Tadawul) on Dec. 27, 2022.

 

The selling shareholder owns the majority stake in the company, representing 62.5% of its capital or 21.88 million of the total 35 million shares.

 

The major shareholder can now sell shares without prior approval from the Capital Market Authority (CMA).

 

Alsaif Gallery's Major Shareholder

Shareholder

Number of Shares

(mln shares)

Ownership (%)

Suleiman bin Muhammad Alsaif

21.88

62.5%

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