The Capital Market Authority (CMA) approved, on April 3, the application submitted by the company to register and offer 304,000 shares on Nomu.
The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account, as well as clients of capital market institutions authorized to carry out management operations. This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in the parallel market on behalf of the clients without prior consent.
The categories include the Saudi government, any government body, any international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).
They also include companies owned by the government, directly or through a portfolio managed by a market institution authorized to practice management operations, investment funds, in addition to companies and funds established in the GCC countries.
The investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu, qualified foreign financial institutions, and any legal person entitled to open investment accounts inside the Kingdom and accounts with Edaa.
Natural persons are also among the qualified investors allowed to open investment accounts inside the Kingdom and accounts with Edaa, provided they fulfill certain criteria.
They should have executed transactions in the securities markets worth a total of no less than SAR 40 million, and no less than 10 deals in each quarter during the past 12 months.
Natural persons should also have net assets value of no less than SAR 5 million and be working or have worked for at least three years in the financial sector.
They should hold a general certificate in securities dealing, approved by the CMA and a professional certificate in the field of securities business, approved by an internationally-recognized body.
The list of qualified investors includes any other persons to be defined by the CMA.
Al Razi Medical is a closed joint stock company established as a sole proprietorship in 2006 in Al Badayea city, Al-Qassim Region.
Operating in the pharmacies activities segment, Al Razi Medical’s activities include storage, sale and marketing of medicines and medical, cosmetic and pharmaceutical products.