A strategic step towards growth
Comel announced a pivotal step in its journey, as its board of directors approved yesterday the company's transfer from the parallel market, Nomu, to the main market, Tadawul. This decision reflects management's confidence in the company's strong financial position and sustainable business model, and its desire to join the ranks of leading companies listed on the Saudi Stock Exchange.
In an official statement published on the Saudi Stock Exchange (Tadawul) website, the company explained that the board made this decision based on the updated and amended listing rules, pursuant to Resolution No. (2-53-2025) issued on May 19, 2025. To ensure a smooth transition and compliance with all regulatory requirements, the board appointed Sustainable Business Financial Company as a specialized financial advisor to manage this important phase.
General context and importance of moving to the main market
Moving from the parallel market, Nomu, to the main market, Tadawul, is a significant milestone for any company. Nomu is designed as a platform for promising small and medium-sized enterprises (SMEs), providing them with a more flexible regulatory environment to raise capital and develop before they are ready for the more stringent requirements of the main market. A company's success in Nomu and its subsequent move to Tadawul demonstrates its operational and financial maturity, as well as its ability to meet high standards of governance and transparency.
This move is not merely a change of trading platform; it carries anticipated positive effects for the company. A listing on the Saudi Stock Exchange (Tadawul) increases the company's visibility and appeal to a wider range of investors, including local and international financial institutions and major investment funds, potentially leading to increased stock liquidity and improved market valuation. Furthermore, listing on the main market facilitates access to diverse financing instruments to support future expansion plans and strengthens the company's position within its economic sector.
Strengthening governance by forming a nominations and rewards committee
In a related move aimed at strengthening corporate governance structures in line with key market requirements, the board of directors of Comel also approved the formation of a Nominations and Remuneration Committee. Dr. Sultan Al-Mubarak was appointed Chairman of the Committee, with Mr. Bandar Al-Nimr and Mr. Abdullah Al-Khayal as members.
The new committee's term will begin on November 26, 2025, and continue until the end of the current board's term on April 4, 2027. This committee plays a vital role in ensuring the selection of qualified individuals for board membership and executive management, and in establishing fair and transparent compensation policies, which are fundamental pillars of good governance required by the major market.
