Kinan shelves plans for listing on Nomu

24/02/2024 ِArgaam
Logo ofKinan International Real Estate Development Co.

Logo of Kinan International Real Estate Development Co.

Kinan International for Real Estate Development Co. called off plans for listing on Nomu-Parallel Market, due to some developments that require the reissuance of a supplementary prospectus.

 

In a statement to Argaam, Kinan said a supplementary prospectus will be issued and the share sale will be postponed for a later stage, to protect the interest of the company and investors.

 

Kinan, which is 30%-owned by Savola Group, published its prospectus to offer 3.6 million shares, or 3% of its capital, on Nomu, Argaam earlier reported.

 

The share sale was scheduled to run from Feb. 25-29.

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