DUBAI, Jan 18 (Reuters) - Saudi Arabia's Capital Market Authority on Monday said the flotation for Middle East Healthcare Company has been postponed at the company's request.
No reason for the postponement was given in the statement to the kingdom's bourse.
The company must determine the new date for its public share offering within six weeks and must finalise the share-sale by Mar. 31 or its regulatory approval to float is considered cancelled, the CMA said.
Middle East Healthcare Co was to offer 30 percent of itself in its initial share sale, first to initial investors and then to the public. The latter phase was supposed to run between Feb. 3-9, according to a Dec. 30 bourse statement.
(Reporting by Hadeel Al Sayegh; Editing by David French) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
Keywords: SAUDI IPO/HEALTHCARE