Raydan Restaurants and Cuisines Co.’s board of directors has approved a decision to move the company to the Saudi’s main stock market, Tadawul All Share Index (TASI), the company said in a bourse statement.

 

Moving to TASI is pending the market’s approval and subject to meeting all market imposed requirements, the statement added.

 

The amendments to the listing rules issued earlier by the Capital Market Authority (CMA) included adding regulations related to the mechanism for the transfer of listed companies from the parallel market "Nomu" to the main market “TASI”, according to data available on Argaam.

 

On Feb. 26, 2017, Raydan was listed on Nomu with a capital of SAR 225 million divided into 22.5 million shares.

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