CMA approves direct listing of Enma Alrawabi on Nomu
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Logo of the Capital Market Authority (CMA)
The Capital Market Authority (CMA) approved Enma Alrawabi Co.’s application to register its shares for direct listing on Nomu Parallel Market.
Trading these shares will be limited to qualified investors, the market regulator said in a statement.
The registration document will be published within a sufficient time prior to listing.
Prospective qualified investors should conduct their own due diligence on the information disclosed in the registration document.
The CMA's approval on the application should never be considered as a recommendation to invest in the shares of the company.
The approval on the offering is valid for six months as of today, Sept. 20, and will be cancelled if the offering and listing of the company's shares are not completed within this period, the statement added.
Riyadh-based Enma Alrawabi was established in 2011 as a closed joint stock company with SAR 2 million capital, divided into 200,000 shares at a par value of SAR 10 each.
The company, which was founded by Sheikh Ibrahim bin Saad Al-Mousa, operates in the real estate development and investment sector. It completed several projects, such as Rawabi Al Zahra Hotel in Madinah, Rawabi Zamzam Hotel, in addition to other educational, industrial and commercial complexes across the Kingdom.
Enma Alrawabi is currently developing a five-star commercial, residential and tourism project, an administrative, commercial complex and a warehouse complex in Riyadh city.