Saudi Exchange welcomes the listing of Saudi Manpower Solutions Company (SMASCO) on the Main Market

Riyadh, 12 June 2024: The Saudi Exchange today celebrated the listing of Saudi Manpower Solutions Company (SMASCO), a leading manpower solutions company in the Kingdom of Saudi Arabia, on the Main Market. The listing ceremony was attended by Mr. Nasser Alajaji, Chief of Listing at the Saudi Exchange and Mr. Abdullah Altimyat, CEO of SMASCO.

SMASCO was established in 2012 with the goal of automating and scaling the business of manpower. Today, the company provides a full range of professional staffing and recruitment services, equipping organizations with skilled personnel.

Mr. Nasser Alajaji, Chief of Listing at the Saudi Exchange, said: "The listing of SMASCO showcases the growth of the Commercial and Professional Services industry group, in supporting of the wider developments within the Kingdom. The Saudi Exchange remains supportive of prospective and current issuers and continues to offer diversified investment opportunities on the Main Market for local, regional and international investors. We extend our congratulations to the leadership at SMASCO and look forward to welcoming them to the Main Market."

Mr. Abdullah Altimyat, CEO of SMASCO, said: "Today marks a significant milestone for us at SMASCO, as we begin our journey as a listed entity on the Saudi Exchange. For over a decade, SMASCO has been a leading choice for companies and individuals seeking professionals, manpower, and qualified workers across diverse industries. SMASCO has expanded its geographic reach and service portfolio, along with clients over the years, and our listing on the Main Market is another step in our journey towards further growth and success.”

It is worth to mention that SMASCO offered 120 million shares representing 30% of the Company’s issued share capital.

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