Zahrat Al Waha to launch IPO on Tadawul in August

The Capital Market Authority (CMA) has approved the prospectus for Zahrat Al Waha For Trading Company’s initial public offering on the Saudi Stock Market, the market regulator said in a statement.

Zahrat Al Waha will float 4.5 million shares, or 30 percent of capital, during the period from Aug. 13 to Aug. 20, as soon as the book-building process is complete.

The Riyadh-based company, which works in factory building and maintenance, will issue the prospectus at a later time.