Al-Modawat Appoints Suhail Partners as Legal Advisor for TASI Transfer

Al-Modawat Specialized Medical Hospital Company (ticker: 9594) announced on June 16, 2026, the appointment of Suhail Partners Law Firm and Legal Consultants as its legal advisor for the company's transfer to the Main Market (TASI). This step is part of the regulatory requirements for transferring from the parallel market (Nomu) to the Main Market of the Saudi Exchange.

Details of the Action

The announcement stated that the appointment is in line with fulfilling the necessary regulatory conditions for the transfer to the Main Market. It also referenced a previous disclosure made on June 2, 2025, regarding the same matter, without providing additional details on the timeline or next steps.

Company's Position

No additional statement has been issued by the company regarding the reasons for choosing Suhail Partners specifically, or the terms of the agreement. The company is expected to continue disclosing subsequent developments in accordance with Capital Market Authority requirements.

Precedents and Context

Transferring from the parallel market to the Main Market is a strategic step for companies that meet higher listing standards, as it provides broader access to institutional investors and increased liquidity. In recent years, the Saudi Exchange has witnessed several similar transfers by companies across various sectors.

Potential Financial Impact

The announcement did not specify any direct financial impact from this appointment. However, a successful transfer could positively affect the stock's classification and attractiveness to investors, especially given the growing interest in the healthcare sector in the Kingdom.