05/12/2023 13:09:02

Saudi Exchange Celebrates the Transition of Riyadh Cement Company from Nomu-Parallel Market to the Main Market

Riyadh, 5th December 2023: Saudi Exchange celebrated the transition of Riyadh Cement Company, a leading cement manufacturing company in the Kingdom of Saudi Arabia from Nomu-Parallel Market to the Main Market of the Saudi Exchange. The ceremony was attended by Mr. Mohammed Al Rumaih, CEO of Saudi Exchange and Mr. Salah Al Rashed, Chairman of Riyadh Cement Company.

Mohammed Al-Rumaih, CEO of Saudi Exchange, said, “The transition of Riyadh Cement Company to the Main Market reflects the substantial expansion experienced by Saudi Arabia's cement industry in recent years, driven by the construction of large-scale projects under Saudi Vision 2030. This move further demonstrates the parallel market’s role in supporting SMEs in Saudi Arabia to grow and drive economic diversification.”

Salah Al Rashed, Chairman of Riyadh Cement Company, commented, “Our successful transition to the Main Market is a testament to our dedicated team and commitment to deliver high-quality products to our customers. Since our listing on Nomu - Parallel Market in 2020, our primary objective has been to establish ourselves as the partner of choice within the cement industry, with a focus on environmental sustainability. As a listed company on the Main Market, we aim to explore new avenues for growth and exceed the expectations of our valued shareholders, partners, and customers.”

Nomu- Parallel Market provides a unique opportunity for medium and small companies to raise capital and expand their operations through a more flexible set of listing requirements.