IssuerAnnouncementDetailsV2Portlet

Actions

Al Moammar Information Systems Co. Announces the latest developments on Al-Moammar information systems Company (MIS) announced the decision of its Board of Directors to approve the allocation of 40 million riyals for the purpose of forming an investment portfolio to invest in international companies in the field of artificial intelligence.

7200
MIS
-1.38 %
1445/07/12     24/01/2024 08:03:54

Element ListExplanation
Introduction With reference to the announcement of Al-Moammar Information Systems Company (MIS) on 06/29/1445 corresponding to 01/11/2024 about the decision of its Board of Directors to approve the allocation of 40 million riyals for the purpose of forming an investment portfolio through self-financing to invest in international companies in the field of artificial intelligence in order to take advantage of growth opportunities in this promising field.

The company announces the latest developments in that it has invested $5 million in holding a stake in OpenAI, Inc.

The investment was obtained through a private stock sale round of OpenAI employee shares tender offer, wherein the company's was valued at $86 billion. The deal was advised by Decisive Capital Management, Geneva, Switzerland.

OpenAI is the leading artificial intelligence company, globally recognized for its pioneering work in Large Language Models (LLMs) with ChatGPT, redefining the landscape of natural language understanding and innovation. With the backing of Microsoft, OpenAI remains at the

forefront of achievements in AI.

Any major pertinent developments will be disclosed in due course.

Previous Announcement Al-Moammar information systems Company (MIS) announced the decision of its Board of Directors to approve the allocation of 40 million riyals for the purpose of forming an investment portfolio to invest in international companies in the field of artificial intelligence.
Date of Previous Announcement on Saudi Exchange’s Website 2024-01-11 Corresponding to 1445-06-29
Hyperlink to the Previous Announcement on the Saudi Exchange Website Click Here
Latest Developments Of The Announced Event not applicable
Reasons For The Delay on The Date of The Event Previously Announced not applicable
The costs associated with the event, and if they have changed or not with indication of the reasons. not applicable
Delay consequences on the Company’s financial results not applicable

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Company Performance

MIS
Add To Watchlist
In your Watchlist
Add To Watchlist
Key Parameters
Last Price 143.0
Net Change -2.0 (-1.38%)
Value Traded (Sar) 37,684,008.2
Volume Traded 263,269
See The Company Profile

LoginPortletPopupv2

Actions

AddtoWatchlistv2

Actions
NO PORTLET SESSION YET