Knowledge Tower gets CMA nod for 20% direct listing on Nomu

12/09/2022 Argaam

Logo of Knowledge Tower Trading Co.

The Capital Market Authority (CMA) approved today, Sept. 12, Knowledge Tower Trading Co.’s application to register and list 350,000 shares, representing 20% of its share capital, on Nomu-Parallel Market, according to a CMA statement.

 

The offer will be confined to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the CMA. The prospectus will be published within sufficient time prior to the start of the direct listing.

 

The CMA's approval of the application should never be considered as a recommendation to invest in the company’s offering or shares. The approval merely means that the legal requirements, as per the Capital Market Law and its executive regulations, have been met.

 

The approval is valid for six months from the CMA’s board resolution date, and is deemed canceled if the target listing of the company’s shares is not completed within this period.

 

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