Alramz gets CMA nod for 30% stake sale

30/06/2025 Argaam
Logo ofAl Ramz Properties Co.

Logo of Al Ramz Properties Co.

The Capital Market Authority (CMA) approved today, June 30, the application submitted by Alramz Real Estate Co. to register and offer about 12.86 million shares for public subscription.

 

The stake represents 30% of the company’s share capital, the market regulator said in a statement.

 

For More IPOs

 

The CMA’s approval of the company’s offering should not be considered as an investment recommendation. It merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met, the statement indicated.

 

The no-objection 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.

 

According to data available with Argaam, Alramz decided in 2022 to cancel on its planned Nomu listing, after the subscription to 3.3 million shares had been scheduled and priced between SAR 61-67 per share.

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