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Saudi Arabia’s Capital Market Authority (CMA) has approved another three initial public offerings (IPOs) as the wave of listing continues on the kingdom's bourses.
The stock market regulator approved the IPOs of Mawarid Manpower Co. and Morabaha Marina Financing Co. (MMFC) for listing on the Saudi main exchange. It also approved the Saudi Lime Industries Company’s application to list on the the Nomu Parallel Market.
Mawarid Manpower Co. has applied to offer 4.5 million shares representing 30% of its capital, the CMA said in a statement on Monday.
The regulator also approved an application from Morabaha Marina Financing Co. (MMFC) to offer 21.43 million shares, or 30% of its capital, on Tadawul.
Established in 2012, MMFC is a Shariah-compliant financing platform offering a wide range of services to individuals, as well as small- and medium-sized enterprises (SMEs).
Mawarid Manpower, founded in 2012 as a closed joint-stock company, provides employment services in the business sector.
The regulator also approved Saudi Lime Industries Company’s application to offer of 2 million shares representing 9.09% of the company's capital in the Nomu Parallel Market.
(Reporting by Brinda Darasha; editing by Cleofe Maceda)
