WSM announces 10% change in municipal contract value

17/07/2024 Argaam

WSM announces 10% change in municipal contract value

Logo of WSM for Information Technology Co.

WSM for Information Technology Co. announced a 10% change in the value of a contract signed with a government entity to develop and operate digital municipal services, according to a statement to Tadawul.

 

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The cost of the contract will be increased by 7% due to undertaking additional services. There will be no impact on the company’s financial statements and the already-scheduled timeframe, the statement added.

 

In its IPO prospectus, the company announced a contract to develop and operate digital municipal services for a government entity for a total of SAR 9.56 million (excluding VAT) over three years, beginning March 6, 2023, and ending April 30, 2026.

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