CMA green lights Meshkati's 900,000-share sale on Nomu

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The Capital Market Authority (CMA) approved today, Sept. 28, the application received from Meshkati Trading Co. for the registration and offering of 900,000 shares on Nomu-Parallel Market, according to a statement.

This represents 25% of Meshkati’s capital, which amounts to a total of 3.6 million shares.

The offering will be confined to qualified investors as stipulated in the glossary of defined terms used in the CMA’s regulations and rules. The prospectus will be published within sufficient time prior to the start of the offering, according to the statement.

CMA also noted that its approval on the application will be valid for six months from the date of its board's decision, adding that the decision will be deemed cancelled if the offering and listing of the company's shares are not completed within such a period.

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