CMA approves 4 new listings on Nomu

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The Capital Market Authority (CMA) gave the green light for four companies to list their shares on Nomu-Parallel Market, namely Fad International Co., Atlas Elevators General Trading & Contracting Co., Clean Life Co., and Riyal Investment & Development Co., according to the CMA website.

Fad International and Atlas Elevators will float 240,000 and 1.2 million shares, representing 20% each of their capital.

Meanwhile, Riyal Investment and Clean Life will offer 720,000 and 300,000 shares, representing 9% and 20% of their capital, respectively.

The offers will be confined to qualified investors stipulated in the glossary of defined terms used in the CMA regulations and rules.

The prospectuses will be published within sufficient time prior to the start of the offering.

The CMA approvals will be valid for six months from the CMA resolution date. It will be deemed cancelled if the offering and listing of the companies' shares are not completed within this period.

Fad International was incorporated in 1999 within to operate in the retail fashion sector. The company owns and manages two trending fashion brands, femi9 and Vivid Flair London, with 68 stores across three continents.

Fad International is managed from its head office in Jeddah, with successful operations across the GCC and Middle East,  according to the company’s website.

Atlas Elevators was established in 2010. The company produces all kind of elevators with high quality and original spare parts. It also offers after-sale services, including maintenance and technical support for its clients in line with the approved safety standards.

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