CMA approves iOud’s request to offer debt instruments

Logo of Intelligent Oud Trading Co. (iOud)

The Capital Market Authority (CMA) approved Intelligent Oud Trading Co. (iOud)’s request to register and publicly offer debt instruments under an issuance program with a total value not exceeding SAR 300 million.

The CMA said the prospectus includes the information and data investors need to review before deciding whether to invest, including the issuer’s financial statements, comprehensive information on its activities and management, and details of the issuance program.

It advised investors to carefully review the issuance prospectus, which includes detailed information on the issuer, its activities, management, the issuance program, and the associated risk factors, in order to assess the potential risks. The authority also urged investors to consult a licensed financial advisor if any part of the prospectus is unclear.

The regulator emphasized that its approval should not be deemed a recommendation to subscribe to the offering, noting that it only confirms that the issuer has met the legal requirements set out in the Capital Market Law and its implementing regulations.

The approval remains valid for six months from the CMA’s decision date and will be revoked if the company fails to complete the offering and listing within this period.