Riyadh -  Naqi Water Company has announced its intention to proceed with the initial public offering (IPO) and list its ordinary shares (IPO) on the Main Market of the Saudi Exchange (Tadawul).

The company seeks to float 6 million ordinary shares, representing 30% of the company’s shares, according to a bourse filing on Thursday.

The offering price for subscribers to purchase the company's shares will be determined after the book-building period.

Tadawul and the Capital Market Authority (CMA) approved the company’s application for the listing on 14 February and 25 May, respectively.

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