Riyadh – Mubasher: The Saudi Capital Market Authority's (CMA) board approved the prospectus for the initial public offering (IPO) of Al-Kathiri Holding Company on the Nomu-Parallel Market.
The company intends to offer 819,000 shares, representing 26.1% of its total shares, according to a statement on Thursday.
The offer will be confined to qualified investors stipulated in the parallel market’s listing rules and the prospectus will be published within sufficient time prior to the start of the offering.
The CMA’s approval shall be valid for six months from the board’s resolution date. The approval shall be deemed cancelled if the offering and listing of the company's shares are not completed within this period.
The authority noted that its approval should never be considered a recommendation to invest in the offering or shares of the company and its decision merely means that the firm has met the legal requirements as per the CMA.
