Saudi Arabia's Capital Market Authority (CMA) approved Afaq Al Arabiya for Transportation & Storage Company’s application to register and offer 900,000 shares, representing 10% of its share capital, in the Parallel Market. The offer will be limited to Qualified Investors as defined in the CMA’s Regulations and Rules. A prospectus is expected to be published sufficiently in advance of the offering, with the CMA highlighting that prospective investors should conduct their own due diligence and seek advice from an authorised financial adviser if needed. The CMA also noted that its approval is not a recommendation to invest and only confirms 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 2025-03-23
Saudi Arabia's Capital Market Authority approves Afaq Al Arabiya for Transportation & Storage to offer 900,000 shares in the Parallel Market
Saudi Arabia's Capital Market Authority (CMA) approved Afaq Al Arabiya for Transportation & Storage Company’s application to offer 900,000 shares, 10% of its share capital, in the Parallel Market for Qualified Investors. The CMA's approval confirms legal compliance, valid for six months, but is not an investment recommendation. A prospectus will be published, and investors should conduct due diligence and consult authorised financial advisers.