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Saudi Manpower Solutions Company (SMASCO) has secured the approval from the Capital Market Authority (CMA) to launch an initial public offering (IPO).
The company is offering 120 million shares, which represent 30% of its share capital. The CMA board approved the offering on March 11 and the prospectus is yet to be published.
SMASCO provides human resources to various companies in Saudi Arabia.
It has deployed more than 160,000 workers to 4,000 companies across the kingdom, according to its website.
The company caters to all industries, with focus on maintenance and operation, metals and mining, construction, oil and gas, hospitality, travel and tourism.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
