PHOTO
Two Saudi manufacturers, Neft Alsharq for Chemical Industries Co. and ASG Plastic Factory, are expected to float their shares on Nomu, the parallel market of Saudi Stock Exchange (Tadawul).
The two businesses have just obtained the approval from the Capital Market Authority (CMA) to proceed with their share offering.
Neft Alsharq, which owns several factories specialised in the manufacture of industrial motor oils, lithium and calcium greases, is looking to float five million shares, which represent 20% of its share capital.
ASG Plastic Factory is offering 750,000 shares, representing 10.64% of its share capital.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
