CMA green lights Shmoh Almadi’s 14.9% IPO on Nomu

Logo of Shmoh Almadi Co.

The Capital Market Authority (CMA) approved the application submitted by Shmoh Almadi Co. to register and offer 1.4 million shares, representing 14.89% of its capital on the Nomu-Parallel Market.

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The offering will be confined to qualified investors and the prospectus will be published within the stipulated period prior to the offering, the market regulator said in a statement today, Sept. 18.

The approval is valid for six months. It shall be deemed cancelled if the offering and listing are not finalized within this period.

Headquartered in Riyadh, the company is specialized in confectionery products, and has four factories in Al-Qassim, Al-Kharj and Riyadh, as well as several marketing outlets across the Kingdom.

According to its website, Shmoh Almadi is the exclusive agent for Mama Maamoul, Lolly Maamoul, Umm Saleh Maamoul, ready-to-cook frozen products, and Plasticum. It operates throughout the Kingdom and the GCC.