National Signage Industrial Company will start selling 20% of its capital through an IPO on the Nomu-Parallel Market from mid-August.

The offering period for 1.5 million shares will begin on August 17 and will end on August 24 for qualified investors, Yaqeen Capital, the financial advisor and lead manager on the potential offering, said in a statement to the Saudi stock exchange on Monday. 

In March, the Saudi Exchange and the Capital Market Authority (CMA) had approved the company’s IPO application.

(Editing by Seban Scaria seban.scaria@lseg.com)