Savola's Kinan International gets CMA not to sell 3% stake on Nomu

Logo of Kinan International Real Estate Development Co.

The Capital Market Authority (CMA) gave the go-ahead today, Dec. 20 for Kinan International Real Estate Development Co. to register and offer three million shares, representing 3% of the company's capital on the Nomu-Parallel Market.

The offer will be confined to qualified investors stipulated in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority, according to the market regulator's website.

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

Qualified investors should conduct their own due diligence on the information disclosed in the prospectus. 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 invest in the offering or shares of the company. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

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