CMA allows Sahat Almajd to float 4.3M shares on Nomu

Logo of Sahat Almajd Co.

The Capital Market Authority (CMA) approved today, June 18, the application submitted by Sahat Almajd Co. to register and offer about 4.38 million shares, on the Nomu-Parallel Market.

The shares to be offered represent 11.11% of the company’s total shares, CMA said in a statement.

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The offer will be limited to qualified investors as defined in the list of terms used in the regulations and rules of the CMA. The prospectus will be published well in advance of the offering's start date.

The CMA’s approval is valid for six months and will be void if the share offering and listing are not completed within this period.

Sahat Almajd runs several food and beverage (F&B)-focused brands under its umbrella, including Hanoverian, Susam and Jadeel.