Riyadh – Mubasher: The shareholders of International Water Distribution Company (Tawzea), a subsidiary of Saudi Industrial Services Company (SISCO), have approved Tawzea's conversion from limited liability to a closed joint-stock company and listing on the Saudi Parallel Market (Nomu).

Tawzea, 50% owned by SISCO in partnership with Saudi Arabian Amiantit Company, has appointed Wasata Capital as a financial consultant to the conversion, according to a bourse filing on Sunday.

The company's listing application is subject to the approvals of the Saudi regulatory and supervisory authorities, including the Capital Market Authority (CMA), the Saudi Stock Exchange (Tadawul), and the Ministry of Commerce.