CMA OKs Mohammed Hadi Al Rasheed 12% IPO on Nomu

Logo of Mohammed Hadi Al Rasheed Co.

The Capital Market Authority (CMA) approved today, Dec. 18, the request of Mohammed Hadi Al Rasheed Co. to register and offer 1.44 million shares, representing 12% of its share capital, on the Nomu-Parallel Market. 

The offering will be confined to qualified investors and the prospectus will be published within sufficient time prior to the offering’s start.

Investors should carefully read the offer prospectus and thoroughly study it to be able to assess the feasibility of taking into consideration the associated risks. If proven difficult to understand, it is recommended to refer to the offering manager before making an investment decision, the statement said.

The CMA's approval of the offering should never be considered as a recommendation to subscribe to the company’s offering. It 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. It shall be deemed cancelled if the offering and listing are not completed within this period.