Ladun's says major shareholder sold 4.3% stake to meet TASI prerequisites

09/10/2024 Argaam
Logo ofLadun Investment Co.

Logo of Ladun Investment Co.

Ladun Investment Co. was notified that Ashar Investment Co., a major shareholder, sold a 4.3% stake in the former to several investors through negotiated deals, in a letter received today, Oct. 9.

 

For more news and details on the projects

 

This came to fulfill one of the prerequisites for transitioning to the Main Market (TASI), which is the liquidity requirement, Ladun said in a Tadawul filing.

 

According to Argaam's data, Ashar Investment's stake in Ladun before this stake sale amounted to 56.4 million shares, or 11.28% of Ladun’s capital.

 

In October 2023, Ladun’s board of directors approved the transition from the Nomu-Parallel Market to TASI. Al Rajhi Capital was appointed as financial advisor on the planned transition.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.