Riyadh - Mubasher: The Saudi Capital Market Authority (CMA) has negated that Umm Al Qura for Development and Construction Company has not filed for being listed on the Saudi Stock Exchange (Tadawul).
The authority said in a statement that the company, through websites including its own, has invited investors to subscribe to the tradable rights of its initial public offering (IPO) and capital hike.
It also stressed that no securities can be issued to the public without the approval of the CMA, as per the market’s rules and regulations.
According to the statement, the issue is currently being investigated.
