Riyadh – Mubasher: The board members of Banan Real Estate Company agreed, on 4 July, to transfer the company's shares from the Parallel Market (Nomu) to the main market All Share Index (TASI).
Banan Real Estate appointed AlDukheil Financial Group as a financial advisor for the proposed transition, according to a bourse disclosure.
Meanwhile, the upgrading process is still subject to the approval of the Saudi Financial Market and is conditional on fulfilling all the required measures in accordance with the listing rules.
Last year, the company’s net profits after Zakat and tax amounted to SAR 37.07 million, higher by 52.39% than SAR 24.32 million in 2021.
Revenues enlarged by 214.51% to SAR 59.44 million in 2022 from SAR 18.90 million a year earlier, while the earnings per share (EPS) went up to SAR 1.33 from SAR 1.22.
