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Alwasail eyes transferring shares to main market

Alwasail eyes transferring shares to main market
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Riyadh – Mubasher: Alwasail Industrial Company submitted a request, on 11 June, to transfer its shares from the Parallel Market (Nomu) to the main market All Share Index (TASI).

The board members granted their approvals on 26 December 2023, according to a bourse filing.

Meanwhile, the transfer process is subject to regulatory approval and depends on the fulfillment of all the requirements set by the market. 

In 2023, Alwasail posted 4.10% higher net profits at SAR 33.58 million, compared to SAR 32.26 million a year earlier,

Revenues jumped by 15.37% to SAR 446 million last year from SAR 386.59 million in 2022, while the earnings per share (EPS) increased to SAR 0.17 from SAR 0.16.

Last September, the company moved the machines and equipment of the Ras Al Khaimah factory in the UAE to its factories in Burayadh city.