Saudi restaurant operator Al Kuzama Trading Company will divest 422,200 shares through an initial public offering on the Nomu-Parallel Market.

The company has secured the Capital Market Authority’s green light to sell 10.71% of the company’s total shares.

Launched in 2023, Al Kuzama Trading currently operates 10 restaurants in Riyadh and Khobar, with plans to open soon in other cities. Some brands are Lavash, Beit Omar, Offwhite, Ovvi and Armin.

(Editing by Seban Scaria seban.scaria@lseg.com)