CMA approves Arabian Contactring services IPO

13/05/2015 16:56 AST

The CMA Board has issued its resolution approving Arabian Contracting Services Company initial public offering of (16,500,000) shares representing (30%) of the Company’s share capital. A portion of the offered shares will be allocated to Institutional Investors. The Company's shares will be offered during the period from 23/08/1436H to 29/08/1436H, which corresponds to the period from 10/06/2015G to 16/06/2015G, once the book-building process is complete.

The Company’s prospectus will be published within sufficient time prior to the start of the subscription period. The prospectus must include all relevant information that the investor needs to know before making an investment decision, including the share price, Company's financial statements, activities and management.

A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the Company, the offering and risk factors. Thus, providing potential investors the ability to evaluate the viability of investing in the offering, taking into consideration the associated risks. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision.

The CMA’s Board approval of the offer should never be considered as a recommendation to subscribe in the offering of any specific company. The Board's approval of the offer merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

Tadawul