Mubasher TV
Contact Us Advertising   العربية

CMA approves direct listing of MIS’ subsidiary

CMA approves direct listing of MIS’ subsidiary
Photo Archive
MIS
7200
7.15% 146.80 9.80

Riyadh – Mubasher: The Capital Market Authority (CMA) has greenlighted, on 28 November, the application of Edarat Communications and Information Technology Company to list and trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).

Edarat Communications is a subsidiary of the Tadawul-listed Al Moammar Information Systems Company (MIS).

Earlier in 2022, the parent company and its subsidiary teamed up under SAR 84.50 million contracts for technology services.

Meanwhile in November, MIS won a SAR 42.71 million contract with the listed Rabigh Refining and Petrochemical Company (Petro Rabigh).

In the first nine months (9M) of 2022, MIS reported net profits after Zakat and tax worth SAR 46.53 million, an annual surge of 23.59% from SAR 37.65 million.

Revenues amounted to SAR 476.43 million in the January-September 2022 period, up 2.78% year-on-year (YoY) from SAR 463.56 million.

The earnings per share (EPS) stood at SAR 1.55 in 9M-22, higher than SAR 1.26 in 9M-21