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Advance International Communication and Information Technology (AICTEC) intends to offer and list 400,000 ordinary shares, representing 20% of its capital, on the Nomu Parallel Market, FALCOM Financial Services Co., the financial advisor and lead manager on the potential offering, announced in a statement to the Saudi Exchange (Tadawul).
Tadawul approved AICTEC’s application to list of its shares on Nomu on Oct. 20, while the Capital Market Authority (CMA) approved the application on Nov. 3.
The offering price will be determined after the book-building period, the financial advisor said in a bourse filing. The offering period will run from Dec. 12-16.
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