Atlas Elevators Co. has appointed Saudi Kuwaiti Finance House (SKFH) as advisor for its initial public offering (IPO) on Saudi Arabia’s Nomu Parallel Market, the financial advisor said in a statement.
SKFH will prepare for the listing, obtain regulatory approvals and address qualified investors according to the Capital Market Authority’s (CMA) rules, the firm said.
Atlas Elevators, which was established in 2010, makes elevators and parts. The company also provides after-sales maintenance and technical support to its clients in compliance with the quality regulations.
The company expects to post a positive financial result after it restructured the management and improved operations in order to realize its strategic and financial objectives.
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