On Wednesday April 20, 2022, the first Extraordinary General Assembly of East Gas Company (a Saudi closed joint-stock company) held its meeting remotely, headed by Mr. Muhammad bin Ahmed Al-Hashem, Chairman of the Board of Directors. The attendance rate reached 100% and the agenda was reviewed, where it was unanimously approved to convert the company from a closed joint stock company to a public joint stock company through direct listing in the parallel Saudi market "Nomu". It is noteworthy that East Gas was established in 2005 as a limited liability company with a capital of 15 million Saudi riyals and was raised in 2012 to 40 million Saudi riyals through granting free shares.
The capital invested in the company's projects amounted around 148 million riyals. It is worth mentioning that East Gas focuses its main activity in distributing natural gas to factories through an underground pipeline network in the second industrial city in Dammam.