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Saudi Arabia's capital market regulator has approved the share sale applications of four companies in the Nomu Parallel Market.
In statements on the Saudi stock exchange Tadawul, the Capital Market Authority (CMA) said the approval for the companies--Jahez International Company for Information and Technology, Nayifat Finance Co., Group Five Pipe Saudi Co. and East Pipes Integrated Company for Industry--shall be valid for six months.
Jahez International is offering 1,363,934 shares representing 13 percent of its share capital.
Nayifat Finance has applied to offer 35,000,000 shares representing 35 percent its share capital.
Group Five Pipe Saudi Co. has applied to offer 2,800,000 shares representing 10 percent of its share capital.
East Pipes Integrated Company for Industry has applied to offer 6,300,000 shares representing 30 percent of its share capital.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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