Saud Qahtani Auction Co. has appointed Musharaka Capital as a financial advisor for its initial public offering (IPO) on the Nomu parallel market, the company said in a statement on Sunday.
Musharaka Capital will seek qualified investors to invest in the IPO after obtaining regulatory approvals.
Qahtani Auction was established in 2010 in Saudi Arabia’s Eastern Province. It expanded to become one of the largest auction companies in the Middle East in terms of geographical spread.
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