AlDrees Mining gets CMA approval to float 1.22 mln shares on Nomu

Hamad M. AlDrees & Partners Co. for Industry & Mining (AlDrees Mining) obtained the Capital Market Authority’s (CMA) approval to float 1.22 million shares on Nomu-Parallel Market, according to a statement today, Dec. 28.

 This represents 20% of the company’s share capital.

 The offering 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 offering.

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

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