Logo of Shatirah House Restaurant Co. (Burgerizzr)
The Saudi Exchange (Tadawul) approved today, Oct. 13, the application of Shatirah House Restaurant Co. (Burgerizzr) for transition from the Nomu-Parallel Market to the Main Market (TASI), with a capital of SAR 35 million, divided into 35 million shares.
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The company must publish the transition document within three trading sessions following Tadawul's approval, the statement added.
The transition document will be available for public viewing on the company's, Tadawul's, and the financial advisor's websites for 10 trading sessions.
Trading on Burgerizzr shares will be suspended from the day following the end of the publication period for five trading sessions maximum to start the transition procedures.
The listing date on the main market will be disclosed once the procedures are completed, according to the statement.
Tadawul advised investors to thoroughly examine the disclosed information and transition document and to consult a licensed financial advisor for clarity before making investment decisions.
It also stressed that its approval should never be considered a recommendation to invest in Burgerizzr shares.
In June, the company applied for transition to the Main Market, according to data available with Argaam.
The stock was listed and started to trade on Nomu in September 2021, with SAR 35 million capital, at a nominal value of SAR 1 each.
Burgerizzr shares ended Oct. 10 at SAR 11.14.
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