CMA nods to Multi Business Group’s 20% offering on Nomu

Logo of Multi Business Group (MBG)

The Capital Market Authority (CMA) greenlit today, Sept. 12, Multi Business Group’s (MBG) request to register and offer three million shares, or 20% of its 150 million share capital, on Nomu-Parallel Market. 

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The offer will be confined to qualified investors stipulated in the glossary of defined terms used in the CMA’s regulations and rules.

The prospectus will be published well in advance of the offering date, according to the market regulator’s website.

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

Established in 2009, MBG provides building contracting services. It is active in building construction, specialty building, and landscaping activities.  

In 2016, it was qualified by the Saudi Contractor's Classification System, developed by the Ministry of Municipalities and Housing. It later obtained the basic membership in the Saudi Contractors Commission, before being qualified as a real estate developer in the off-plan sales program Wafi.