Al Ashghal Al Moysra gets CMA nod to 20% stake sale on Nomu

Logo of Capital Market Authority (CMA)

The Capital Market Authority (CMA) announced today, March 20, approving Al Ashghal AlMoysra Co.’s request to list and float 480,000 million shares, representing 20% of its share capital, on Nomu-Parallel Market.

The offering will be confined to qualified investors and the prospectus will be published within sufficient time prior to the offering’s start, the market regulator said in a statement.

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The approval is valid for six months. It shall be deemed cancelled if the offering and listing are not finalized within this period.