CMA approves offering 30% of Nahdi Medical in IPO

Logo of Al Nahdi Medical Co.

The Capital Market Authority (CMA) board issued its resolution approving Nahdi Medical Co.’s application for the offering of 39 million shares, representing 30% of its share capital.

The company's prospectus will be published within sufficient time prior to the start of the subscription period.

The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the company's financial statements, activities, and management.

A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering and risk factors.

Thus, providing potential investors the ability to evaluate the viability of investing in the offering, taking into consideration the associated risks. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision.

The CMA's approval on the application should never be considered as a recommendation to subscribe in the offering of any specific company. The CMA's approval on the application merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA's approval on the application shall be valid for six months from the CMA board resolution date. The approval shall be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

According to data available on Nomu, Nahdi Medical Co. owns a series of retail pharmacies in Saudi Arabia and operates an extensive network spread across more than 125 cities and villages across the Kingdom.

The company was founded by Abdullah Amer Al Nahdi in 1986, with headquarters in Jeddah. It has a network of more than 1,100 pharmacies in the Kingdom and is 50% owned by Jeddah-based investment firm SEDCO Holding.

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