Miahona gets CMA approval to float 30% stake on TASI

Logo of Miahona Co.

Miahona Co. obtained the approval of the Capital Market Authority (CMA) to register and float 48.3 million shares, representing 30% of the company's share capital, on the main market (TASI).

For More IPOs

The initial public offering (IPO) prospectus will be published within sufficient time prior to the start of the subscription period, the market regulator said in a statement today, March 20.

The approval will be valid for six months from the CMA resolution date. It will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

Established in 2008, Miahona is owned by Vision Invest. It provides management and concession services for water collection, and water and wastewater treatment utilities.

According to the company's website, Miahona has a number of subsidiaries, including Industrial Cities Development and Operating Co., the Riyadh Water Production Co. and the Jazzirah Environmental Co.