Follow-ups -eshrag News:
Saudi telecom operator KEIR calls Nomu listing a significant step to drive growth
RIYADH: Saudi telecom firm KEIR International Co. said its direct listing on Nomu was a needed initiative so “KEIR can continue to participate in the developments in the public and private sectors as a telecom, power and water utility services company.”
In a statement issued on the social media, the company’s founder and chairman Mohammed Al Dhalaan said, “It was a significant step so KEIR can be clearer with its goals and open more doors and explore more opportunities as we aspire for expansion of investments, growth in revenues and broaden our appeal to more investors and partners.”
“It was a necessary evolution so KEIR can become a stronger company with better corporate governance,” he added.
The company is in the process of investing in optical fiber services, CEO Waseem Al Marzoki told Argaam.
KEIR’s primary objectives are wired and wireless communications, voice communications, cybersecurity, smart meters, alternative energy, and manufacturing, he added in the report.
The Capital Market Authority approved the application of KEIR International to register its shares for a direct listing on Nomu on May 25.
KEIR International is a joint-stock company with a capital of SR120 million ($32 million), which is involved in telecommunications, information technology, and power.
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