CMA approves Advance International for Communication's request to offer 400,000 shares on Nomu

Logo of the Capital Market Authority (CMA)

The Capital Market Authority (CMA) approved the application received from Advance International Company for Communication and Information Technology to offer its shares on Nomu Parallel Market.

The company will offer 400,000 shares, representing 20% of capital, in the parallel market.

Trading these shares will be limited to qualified investors, the market regulator said in a statement.

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

Prospective qualified investors should conduct their own due diligence on the information disclosed in the registration document.

The CMA's approval on the application should never be considered as a recommendation to invest in the shares of the company.

The approval on the offering is valid for six months as of today, Nov. 3, and will be cancelled if the offering and listing of the company's shares are not completed within this period, the statement added.

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