Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Thursday announced its approval for the initial public offering (IPO) of Leejam Sports Company.
The IPO will involve 15.715 million shares, representing 30% of Leejam Sports’ capital.
The sports company’s prospectus will be published prior to the start of the IPO subscription period, the CMA said in a statement.
“The CMA’s approval on the application should never be considered as a recommendation to subscribe in the offering of any specific company. [It] merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met,” the statement concluded.
The start date for Leejam Sports’ IPO has yet to be announced.
