Riyadh – Mubasher: The board members of Gas Arabian Services Company approved transferring its shares from the Parallel Market (Nomu) to the main market All Share Index (TASI).
The listed firm appointed Yaqeen Capital as a financial advisor for the transition process, according to a bourse disclosure.
The movement is still subject to the approval of the Saudi Stock Exchange (Tadawul) and is conditional on fulfilling all the requirements stipulated in the listing rules.
Gas Arabian Services will disclose any further developments related to this matter at a later time.
In the first half (H1) of 2023, the company posted 98.79% year-on-year (YoY) higher net profits after Zakat and tax at SAR 35.48 million, compared to SAR 17.84 million.
Earnings per share (EPS) increased to SAR 0.22 in H1-23 from SAR 0.11 in H1-22, while the revenues hiked by 85.84% to SAR 351.21 million from SAR 188.98 million.
Last July, Saudi Arabian Mining Company (Ma’aden)granted the firm a purchase order to improve the gas metering station of Saudi Arabian Oil Company (Aramco).
