The Saudi Arabia Capital Markets Authority (CMA) has approved Cherry Trading Company’s application to register its shares and proceed with an initial public offering of 9,000,000 shares, equal to 30% of the company’s share capital. The prospectus is to be published sufficiently in advance of the subscription period and is expected to include key investor information such as financial statements, business activities and management, as well as risk factors. The CMA noted that its approval is not a recommendation to subscribe, but a confirmation that the legal requirements under the Capital Market Law and its Implementing Regulations have been met. The approval remains valid for six months from the CMA Board resolution date and will be deemed cancelled if the offering and listing are not completed within that period.
Saudi Arabia Capital Markets Authority 2025-06-25
Saudi Arabia Capital Markets Authority approves Cherry Trading Company registration and IPO for 9,000,000 shares representing 30% of share capital
The Saudi Arabia Capital Markets Authority has approved Cherry Trading Company's application to register and offer 9,000,000 shares, representing 30% of its share capital, in an initial public offering. The prospectus will include essential investor information and must be published before the subscription period. The approval is valid for six months, contingent on completing the offering and listing within this timeframe.