Saudi Arabia's Capital Market Authority (CMA) Board approved Mutlaq Al-Ghowairi Contracting Company’s application to register and offer 240,000,000 shares, representing 30% of the company’s share capital. The CMA said the company’s prospectus will be published sufficiently in advance of the subscription period and will include information needed for an investment decision, including financial statements, business activities and management. It also cautioned that CMA approval is not a recommendation to subscribe, but confirmation that legal requirements under the Capital Market Law and its Implementing Regulations have been met. The approval is valid for six months from the Board resolution date and will be deemed cancelled if the offering and listing are not completed within that period.
Saudi Arabia Capital Markets Authority 2025-12-31
Saudi Arabia's Capital Market Authority approves Mutlaq Al-Ghowairi Contracting Company registration and 240,000,000-share offering for 30% of share capital
The Saudi Arabia Capital Market Authority (CMA) approved Mutlaq Al-Ghowairi Contracting Company's application to register and offer 240 million shares, representing 30% of its share capital. The prospectus will be published before the subscription period, detailing necessary investment information. CMA approval confirms compliance with legal requirements but is not a subscription recommendation.