Saleh Abdulaziz Al Rashed & Sons gets CMA nod to IPO 5.58M shares on TASI

Saleh Abdulaziz Al Rashed & Sons obtained the approval of the Capital Market Authority (CMA) to float 5.58 million shares in an initial public offering (IPO) on the Main Market (TASI).

The offering represents 30% of its capital, the market regulator said in a statement today, Sept. 22.

 The prospectus will be published ahead of the subscription start date.

 The CMA’s approval will be valid for six months from the decision date. It is deemed cancelled if the offering and listing are not completed within this period.