CMA approves Public Warehousing share offer

20/08/2017 05:51 AST

The Saudi Capital Market Authority Board has issued its resolution on Aug. 18 approving the prospectus of Public Warehousing Company and the offering of 1,286,000 shares representing 30% of the company's share capital. The offer will be confined to Qualified Investors stipulated in the Parallel Market Listing Rules. 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 prospectus. If the prospectus proves difficult to understand, it is recommended to consult with an authorised financial advisor prior to making any investment decision.

The CMA’s approval on the offer should never be considered as a recommendation to invest in the offering or shares of the company. The CMA’s approval on the offer merely means that the legal requirements as per the Capital Market Law and its Implementing Regul ations have been met.

The CMA’s approval on the offer shall be valid for (6) months from the CMA Board resolution date. The approval shall be deemed cancelled if the offering and listing of the company's shares are not completed within this period.


Saudi Gazette

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