Tadawul rejects Watani Steel request for transition to Main Market

01/09/2024 Argaam
Logo ofWatani Iron Steel Co. (Watani Steel)

Logo of Watani Iron Steel Co. (Watani Steel)

The Saudi Exchange (Tadawul) announced today, Sept. 1, refusing the request of Watani Iron Steel Co. to transfer from the Nomu-Parallel Market to the Main Market.

 

The decision was taken as the company failed to meet all transition requirements stipulated in the listing rules. In May, the steel producer submitted a request for transition to the Main Market after having obtained the board approval in August 2023, as reported earlier by Argaam.

 

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The company was listed on Feb. 17, 2021, with SAR 181.65 million in capital, at a par value of SAR 1 a share.

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