Amwaj International gets CMA nod for 10% direct listing on Nomu

Logo of Capital Market Authority

The Capital Market Authority (CMA) approved today, March 31, the application received from Amwaj International Co. to register and offer 600,000 shares, or %10 of its capital in the Nomu Parallel Market, according to CMA's statement.
 

The offer will be confined to qualified investors stipulated in the glossary of defined terms used in CMA's regulations and rules. The prospectus will be published within sufficient time prior to the start of the offering.
 

CMA also said its approval on the application shall be valid for 6 months from the date of its board resolution, adding that the approval shall be deemed cancelled if the offering and listing of the company's shares are not completed within this period.
 

Established in 2001 as the commercial arm of Zahran Holding, Amwaj International operates in the sale and distribution of home appliances in the Kingdom.
 

The company is the owner of several trademarks, notably UGINE, in addition to tis exclusive agency for AUX air conditioners in Saudi Arabia.

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