Aldukheil Financial says qualified investors can subscribe to Rayan Advanced shares

Logo of Rayan Advanced Industrial Co.

Aldukheil Financial Group announced that the Capital Market Authority (CMA) approved, on Nov. 24, the supplementary prospectus for the offering of two million shares in Rayan Advanced Industrial Co., which represents 20% of the company's total shares.

The amendments to the supplementary prospectus included that the offering period started from Sunday, Nov. 20 and will continue for a period of 10 working days, including the last day for subscription (Dec. 1).

The amendments also included that qualified investors be able to apply for subscription to the IPO shares without the need for them to have a qualified investment account with the lead manager and the receiving banks, namely Alinma Investment, SNB Capital, Riyad Capital and AlJazira Capital.

Aldukheil Financial indicated that qualified investors can subscribe to shares of Rayan Advanced as follows:

- Qualified investors who are clients of the receiving banks:

Subscription to the offered shares will be electronically for qualified investors who are allowed to trade in Nomu-Parallel Market through the investment account with the lead manager and the receiving banks.

Other qualified investors:

In the event that there is no qualified investment account for trading in the parallel market with the lead manager or any of the receiving banks, the qualified investor can submit the subscription application without the need to open a new investment account through the lead manager Alinma Investment.

Aldukheil Financial also clarified that the date for the final allocation will be on Tuesday, Dec. 6, and the date for refund, if any, will be on Thursday, Dec. 8.

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