Saad Hussain Dajam Group gets CMA nod to float 20% on Nomu

Logo of Saad Hussain Bin Dajam Group

Saad Hussain Bin Dajam Group obtained today, Dec. 9, the approval of the Capital Market Authority (CMA) to float 2.05 million shares, or 20% of its capital, on the Nomu-Parallel Market.

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

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The prospectus will be published within sufficient time prior to the offering start date.

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

Saad Hussain Bin Dajam Group was established more than 35 years ago as a sole proprietorship operating in various fields, including transportation, real estate, and contracting.

The Saudi group is engaged in the transportation and marketing of oil products, real estate trading, property management, marketing and advertising, and engineering consultancy. It also operates a number of factories and industrial complexes of diverse activities, according to its official website.