Saudi CMA approves BinDawood, White Cement IPOs

The CMA added that the IPO prospectus is set to be published soon and at enough time before the process begins

  
Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019.

REUTERS/Ahmed Yosri

Riyadh – The Saudi Capital Market Authority (CMA) has approved the request of BinDawood Holding Company to offer 20% of shares through an initial public offering (IPO).

A total of 22.86 million shares will be offered through the IPO, according to a statement on Tuesday.

The CMA added that the IPO prospectus is set to be published soon and at enough time before the process begins.

In addition, the CMA has approved the request made by the Saudi White Cement Company to list its shares on the Saudi Stock Exchange Parallel Market (Nomu).

Source: Mubasher

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