Riyadh – Mubasher: Mohammed Hasan Al Naqool Sons Company announced that its board of directors has appointed Istidama Business Financial Company as a financial advisor, according to a bourse filing.
The appointment is for Al Naqool’s transition to the Saudi Exchange’s (Tadawul) Main Market.
The board’s decision was finalized on 10 October 2026, marking a key step in the company’s strategy to move from the Nomu-Parallel Market.
The appointment follows an initial board approval for the listing transfer originally announced on 15 November 2023.
Under the new mandate, the company will work closely with the financial advisor to fulfill all regulatory requirements and procedures mandated by the listing rules.
The transition remains subject to formal approval from the Tadawul and is contingent upon the company meeting all necessary criteria outlined in the listing regulations.
Al Naqool stated it will disclose further material developments regarding the transfer process as they occur.
The company lately doubled its capital through the issuance of one bonus share for every one share held by existing shareholders.
