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Trading ban lifted on founding shareholders of Amlak International

January 13, 2021

The ban on Amlak International for Real Estate Finance Co.’s founding shareholders from selling shares was lifted Jan. 12, 2021, six months after the stock began trading on the Saudi Stock Exchange (Tadawul) on July 13, 2020.

Under the Capital Market Authority (CMA) regulations, a company’s founding shareholders, as well as major shareholders who own 5 percent minimum, cannot sell their shares for six months after the beginning of trading on Tadawul.

After the end of the lockup period, those shareholders do not need the market regulator’s approval to dispose of their shares.

Saudi Investment Bank (SAIB) is one of Amlak’s major shareholders with a 22.41 percent stake, followed by Amlak Finance (18.35 percent).

arabnews

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