CMA OKs QEC’s 2.5M share sale on Nomu

Logo of Quality Education Co. (QEC)

The Capital Market Authority (CMA) approved the application of Quality Education Co. (QEC) to register and float 2.5 million shares on the Nomu-Parallel Market.

The offer shares account for 20% of the company’s share capital.

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They will be offered to qualified investors stipulated in the glossary of defined terms used in the CMA regulations and rules. The prospectus will be published within sufficient time prior to the offering’s start, the market regulator said in a statement today, June 18.

Investors should carefully read the offer prospectus and thoroughly study it to be able to assess the feasibility of taking into consideration the associated risks. If proven difficult to understand, it is recommended to refer to the offering manager before making an investment decision, the statement added.

The CMA confirmed that its approval is valid for six months and will be void if the share offering and listing are not completed within this period.

QEC was founded in 2009 and operates across multiple sectors in Saudi Arabia, offering educational, training, healthcare, logistics, and technology services, according to the company’s website.