{"id":86237,"date":"2024-05-16T00:00:00","date_gmt":"2024-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/"},"modified":"2024-05-16T00:00:00","modified_gmt":"2024-05-16T00:00:00","slug":"moving-on-up","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/","title":{"rendered":"Moving on up"},"content":{"rendered":"

Two Nomu-listed companies are planning to move to Tadawul\u2019s main <\/strong>market<\/strong>. <\/p>\n

#1- <\/strong>Nomu-listed state-owned <\/strong>Natural Gas Distribution (NGDC)<\/a><\/strong> said in a filing to Tadawul<\/a> yesterday that its board had signed off on the move, but didn\u2019t provide any other details.<\/p>\n

About NGDC:<\/strong> Established in 2000, the state-owned natural gas distribution player is one of the largest in its segment, second only to Aramco, according to its website. NGDC supplies natural gas to factories in Riyadh\u2019s second industrial city, with 66 factories currently linked to its supplies. <\/p>\n

NGDC will have to make some changes to make the cut:<\/strong> To earn regulatory approval, it will need to boost its market cap, which currently stands at SAR 215 mn, according to market data<\/a>. Companies must have a market cap of SAR 300 mn to upgrade to the main market. <\/p>\n

REMEMBER-<\/strong> Issuers on main market Tadawul are also required to have at least 200 public shareholders at the time of listing and a minimum of three years worth of audited financial statements. <\/p>\n

How NGDC fared in 2023: <\/strong>The company\u2019s net income rose 14.4% y-o-y to SAR 3.8 mn last year, and revenues inched up 1.6% y-o-y to SAR 92.5 mn, it said in a previous disclosure<\/a>. <\/p>\n

Market reax:<\/strong> The company\u2019s share price remained unchanged at SAR 43.00 at yesterday\u2019s close.<\/p>\n

\n

AL DAWLIAH-<\/p>\n

#2- Recruitment and HR agency the <\/strong>International Company for Human Resources<\/a><\/strong> \u2014 <\/strong>better known as Al Dawliah \u2014 has appointed Yaqeen Capital<\/strong> as a financial advisor on its potential transfer to the main market Tadawul, it said in a statement to the exchange<\/a>.<\/p>\n

About Al Dawliah:<\/strong> The company has been in business for more than 15 years, with six branches split between the Kingdom, the UAE, Jordan, and Egypt, according to its website. Al Dawliah has served north of 1.6 mn users, with clients including FedEx Express, Saudi Airlines, Dr Sulaiman Al Habib Medical Group, Al Rajhi Bank, and several ministries. <\/p>\n

The financials:<\/strong> Al Dawliah reported SAR 2.8 mn in net income in 2023, down 34.1% y-o-y. The lower bottom line comes despite the company\u2019s revenues rising 45% y-o-y to SAR 112.1 mn during the year, which Al Dawliah said was because it \u201cformed an allowance for credit losses\u201d worth SAR 1.3 mn, while zakat expenses rose 74% y-o-y in 2023. The company\u2019s market capitalization currently stands at SAR 209.0 mn, according to market data.<\/p>\n

Market reax:<\/strong> The company\u2019s share price remained rose 0.2% to SAR 4.20 at yesterday\u2019s close.<\/p>\n","protected":false},"excerpt":{"rendered":"

Al Dawliah has tapped Yaqeen Capital as its financial advisor<\/p>\n","protected":false},"author":1,"featured_media":86238,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2704],"tags":[2419,10,2016,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-enterpriseam-ksa","tag-natural-gas-distribution-ngdc","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"d334133f-96e3-4e5c-a396-0da5c6594c21","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/325.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Natural Gas Distribution + International Company for Human Resources gearing up for main market transition","related_issue":[86220],"teaser":"Al Dawliah has tapped Yaqeen Capital as its financial advisor","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.6644cede-c886-499d-9de8-275fee8b4f9e.mp3"},"yoast_head":"\nMoving on up - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moving on up\" \/>\n<meta property=\"og:description\" content=\"Al Dawliah has tapped Yaqeen Capital as its financial advisor\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-16T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Moving on up\",\"datePublished\":\"2024-05-16T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\"},\"wordCount\":395,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Capital Markets\",\"EnterpriseAM KSA\",\"Natural Gas Distribution (NGDC)\",\"Nomu\"],\"articleSection\":[\"CAPITAL MARKETS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\",\"name\":\"Moving on up - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-05-16T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Moving on up\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Moving on up - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/","og_locale":"en_US","og_type":"article","og_title":"Moving on up","og_description":"Al Dawliah has tapped Yaqeen Capital as its financial advisor","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/","og_site_name":"KSA","article_published_time":"2024-05-16T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Moving on up","datePublished":"2024-05-16T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/"},"wordCount":395,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1","keywords":["Capital Markets","EnterpriseAM KSA","Natural Gas Distribution (NGDC)","Nomu"],"articleSection":["CAPITAL MARKETS"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/","name":"Moving on up - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1","datePublished":"2024-05-16T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/16\/moving-on-up\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Moving on up"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/325.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/86237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=86237"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/86237\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/86220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/86238"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=86237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=86237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=86237"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=86237"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=86237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}