Trading ban on Avalon Pharma’s major shareholders ends today

26/08/2024 Argaam Special
Logo ofMiddle East Pharmaceutical Industries Co. (Avalon Pharma)

Logo of Middle East Pharmaceutical Industries Co. (Avalon Pharma)

The ban on Middle East Pharmaceutical Industries Co.’s (Avalon Pharma) major shareholders from selling shares was lifted today, Aug. 26, six months after the stock began trading on the Saudi Exchange (Tadawul) on Feb. 27, 2024.

 

For More IPOs

 

The major shareholders, who owned 56.88% of the capital, were subjected to a six-month ban starting from the stock’s debut on Tadawul.

 

As of today, they can sell their shares without prior approval from the Capital Market Authority (CMA).

 

Company Shareholders

Shareholders

Number of Shares

(mln)

Ownership (%)

Tabbaa National Holding Co.

8.44

42.18%

Talal Youssef Mahmoud Zahid

2.94

14.70%

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