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Saudi Arabia’s Lamasat Company is set to list its shares on the local bourse’s parallel market, according to a statement on Monday.
The Capital Market Authority (CMA) has approved Lamasat’s application to offer six million shares, which represent 7.41% of the share capital, in the Parallel Market (Nomu) of the Saudi Stock Exchange (Tadawul).
The offer will be confined to qualified investors, the regulator said. No prospectus has been published yet.
The CMA’s approval on Lamasat’s application is valid for six months and will be deemed cancelled if the share offering is not completed within the specified timeframe.
(Writing by Cleofe Maceda; editing by Seban Scaria)
