First IT firm lists shares on Saudi stock market

Saudi Stock Exchange celebrates the listing of Al Moammar Information Systems Company
First IT firm lists shares on Saudi stock market
The listing marks the first company to be listed in the IT sector within a total of 201 listed companies on the main index.
By Sam Bridge
Wed 24 Apr 2019 02:08 PM

The Saudi Stock Exchange (Tadawul) celebrated on Wednesday the listing of Al Moammar Information Systems Company (MIS).

The listing marks the first company to be listed in the IT sector within a total of 201 listed companies on the main index.

Khalid Al Hussan, CEO of Tadawul, said: “We are pleased today to list the first company in the IT sector, and we look forward to expand the number of companies listed in this promising sector.

"We provide listed companies with ongoing support by continuously working with the Capital Market Authority (CMA) to improve the listing rules, and collaborating with government entities to offer incentives catered for listed companies.

"We are also cooperating with the chambers of commerce all over the kingdom to hold listing forums in an aim to raise awareness and enhance our interaction with companies and all related stakeholders.”

Ibrahim Al-Moammar, vice chairman of MIS, added: "We look forward to continued contribution to the growth of the Saudi economy in general, and the digital economy in particular under Vision 2030.

"We are also committed to further develop the services and solutions we provide our clients, to maximise the return on our investors, and create a positive working environment for our employees."

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