06/06/2024 13:22:36

Saudi Exchange welcomes the listing of Miahona Company on the Main Market

Riyadh, 6 June 2024: The Saudi Exchange celebrated the listing of Miahona Company, a pioneer in the development of water and wastewater infrastructure, on the Main Market today. Mr. Nasser Alajaji, Chief of Listing at Saudi Exchange, and Eng. Awaadh Al Otaibi, CEO of Miahona Company, attended the listing ceremony.

Based in Riyadh, Saudi Arabia, the firm specializes in water cycle management within the circular water economy, catering to both municipal and industrial customers. With more than 15 years of specialized experience in Public-Private Partnerships (PPP), Miahona delivers solutions throughout the entire water sector, with operations spanning the full spectrum of the water value chain, encompassing water production, distribution, wastewater gathering, treatment, treated sewage effluent (TSE) recycling, as well as billing, collection, and customer support services.

Mr. Nasser Alajaji, Chief of Listing at Saudi Exchange, said: “As the Saudi Exchange continues to develop, we are pleased to welcome companies from a diverse range of sectors to our market. The listing of Miahona is a testament to our commitment to supporting the listing of companies that provide essential services and infrastructure development to the Kingdom. The water sector is crucial for the Kingdom's sustainable development, and we are pleased to see companies like Miahona join the Main Market. We congratulate them on this milestone and look forward to hearing more as their journey progresses.”

Eng. Awaadh Al Otaibi, CEO of Miahona Company,said: “This is a landmark day for Miahona as we embark on a new chapter. Our listing on the Saudi Exchange's Main Market is a reflection of our dedication to expanding our reach and enhancing our contributions to the Kingdom's water sector. As a public entity, we look forward to leveraging our expertise and pursuing further growth and innovation.”

Miahona offered 48,277,663 ordinary shares representing 30% of the company’s issued share capital.