CMA nods to KDL Logistics' 700,000-share offering on Nomu

Logo of Khaled Dhafer & Brother’s Logistics Services Co. (KDL Logistics)

The Capital Market Authority’s (CMA) board approved today, Sept. 29, Khaled Dhafer & Brother’s Logistics Services Co.’s (KDL Logistics) request to register and float 700,000 shares, representing 20% of its share capital, on the Nomu-Parallel Market.

In its statement, the CMA said the offering will be limited to qualified investors as stipulated in the glossary of defined terms used in its rules and regulations. The prospectus will be published well ahead of the subscription period.

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The authority stressed that potential investors in the offered shares should carefully review and study the information disclosed in the prospectus. They could also consult a licensed financial advisor before making any investment decision.

The CMA underlined that its approval should not be considered an endorsement of the viability of investing in the offering or in the company’s shares. It merely means that regulatory requirements under the Capital Market Law and its implementing regulations have been met.

The authority’s approval is valid for six months from the date of the board resolution. It will be cancelled if the offering and listing of the company’s shares are not completed within this period.