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Press Release: Naseej [May 25, 2022]

Naseej Shares Begin Trading on Nomu-Parallel Market

Riyadh, 25th of May 2022, Shares of Naseej for communication and information technology started trading on the Nomu-Parallel Market yesterday, May 24, under the symbol 9538 and ISIN Code SA15IH34L116. Daily fluctuation limit is 30% and static price fluctuation limit is 10%.

On March 28, the Capital Market Authority (CMA) approved Naseej's application to register its shares for direct listing on Nomu, and on April 20th Naseej announced the registration document for listing it shares on Nomu, with a price guidance for trading its shares at SAR 70.

"The listing of Naseej shares on the Nomu market is a testament to the operational efficiency and the quality of the systems of governance at Naseej and promises numerous benefits for Naseej and investors by furthering the efficacy of our governance systems and operational excellence, enabling us to expand the range and quality of the solutions we offer to our customers in the region, and serve as an important step towards serving more customers in regional and global markets". Mr. Abduljabbar Al-Abduljabbar, Naseej's Executive President commenting on this occasion.

About Naseej

Naseej for communication and information technology is a leading Saudi based Tech company that offers comprehensive and state of the art digital transformation solutions for academic and educational institutions, knowledge and cultural centers, government organizations and large corporations.

Naseej was founded in 1989 as a sole establishment in the city of Riyadh and was transformed into an LLC in 1995 under the name of Arabian Advanced Systems, with a capital of SAR 1,000,000 divided into 1,000 shares worth SAR 1,000 per share.

In 1997 the company launched "Naseej" as the first information network serving the region, in addition to launching "Naseej portal" in the same year as one of the first Arabic public portals on the world wide web. Both services received wide receptions during its launch and subsequent operations.

In 2020 the company name was changed from Arabian Advanced Systems to Naseej for communication and information technology; and in 2021 the partners decided to change the company from an LLC to a closed joint stock company and increased its capital to SAR 50,000,000 divided into 5,000,000 common shares worth SAR 10 per share, wish was fully subscribed to by shareholders.

Since its inception Naseej has been committed to harnessing the power of digital transformation in learning & knowledge management by enabling its customers to provide rich experiences for their users and adapt to a dynamic technology landscape, while reducing their technical burden to a minimum enabling them to focus on achieving their strategic objectives, resulting in higher return on their technology investments with Naseej.

"The culmination of years of expertise gained by working with hundreds of clients across the region on diverse technology and digital transformation challenges enabled us to gain deep insights and understanding of their true needs, challenges, and aspirations, resulting in solutions designed and developed to address those unique needs and lead the way into the age of smart services, cloud computing, open platforms, AI, and the next step in digital transformation" said Mr. Abduljabbar.

Today, Naseej operates in more than 15 countries around the region working directly with the region's top academic and educational institutes, libraries and cultural centers, government organizations and large corporations, offering them a wide range of comprehensive digital transformation in learning & knowledge management.


Summary: Shares of Naseej for communication and information technology started trading on the Nomu-Parallel Market, May 24, under the symbol 9538 and ISIN Code SA15IH34L116. Daily fluctuation limit is 30% and static price fluctuation limit is 10%. On March 28, the Capital Market Authority approved Naseej's application to register its shares for direct listing on Nomu, and on April 20th Naseej announced the registration document for listing it shares on Nomu, with a price guidance for trading its shares at SAR 70.
Publication Year:2022
Type of Material:Press Release
LanguageEnglish
Date Issued:May 25, 2022
Publisher:Naseej
Company:
Company: Naseej
Subject: Mergers and acquisitions
Permalink: https://librarytechnology.org/pr/27591/naseej-shares-begin-trading-on-nomu-parallel-market

DocumentID: 27591 views: 18 Created: 2022-07-21 14:29:51 Last Modified: 2022-08-10 15:06:02.