Riyadh – Mubasher: Food Resources Development Co. (FRD) chose KASB Capital to be the financial advisor for the offering and listing of the company's shares on the Saudi Nomu-Parallel Market.
KASB stated that it is working on completing the regulatory requirements and obtaining the approval of the Capital Market Authority (CMA) to offer the company's shares on Nomu.
The company said that it will contact qualified investors to invest in the offered shares, after obtaining the necessary and regulatory approvals, according to a bourse filing on Wednesday.
FRD was established in 2004 and works in managing, operating, and equipping restaurants.
The company owns a 9,600-square metre plant for food products, frozen foods, and confectionery.
The Saudi Stock Exchange (Tadawul) launched Nomu on 26 February 2017, after the Capital Market Authority (CMA) issued the listing rules.
