Saudi Arabia’s Capital Markets Authority (CMA) approved Qudra for Communications and Information Technology Company’s application to register and offer shares on the Parallel Market, covering 5,000,000 shares representing 18.18% of the company’s share capital. The offering will be restricted to Qualified Investors as defined in the CMA’s regulations. The prospectus will be published sufficiently ahead of the start of the offering, and prospective investors are advised to conduct their own due diligence and consult an authorised financial adviser if needed. The CMA noted that its approval is not a recommendation to invest and only indicates that the legal requirements under the Capital Market Law and its implementing regulations have been met; the approval is valid for six months from the CMA Board resolution date and will be cancelled if the offering and listing are not completed within that period.
Saudi Arabia Capital Markets Authority 2025-03-17
Saudi Arabia Capital Markets Authority approves Qudra for Communications and Information Technology to offer 5 million shares on the Parallel Market
Saudi Arabia’s Capital Markets Authority (CMA) approved Qudra for Communications and Information Technology Company’s application to register and offer 5,000,000 shares on the Parallel Market, representing 18.18% of its share capital. The offering is limited to Qualified Investors as per CMA regulations. The CMA emphasized that its approval is not an investment recommendation and is valid for six months.