Font Size

- Aa +

Mon 13 Feb 2017 05:17 PM

Font Size

- Aa +

Saudi regulator approves listing of two SMEs on parallel bourse

Expected to go live in early 2017, the market is a bid to improve access to capital and encourage better corporate governance

Saudi regulator approves listing of two SMEs on parallel bourse
(Getty Images)

Saudi Arabia's Capital Market Authority (CMA) said on Monday that it had approved public offerings for two companies on its bourse dedicated to small and medium-sized businesses.

Roya Real Estate Investment Company will offer 20 percent of itself in its share sale, equivalent to 8.6 million shares, with Thob Al-Aseel Company offering 20 percent of itself in its share sale, equivalent to 1.0 million shares, the CMA said.

Both offers will be confined to Qualified Investors stipulated in the Parallel Market Listing rules, the CMA said.

Announced in April last year and expected to go live in early 2017, the market is a bid to improve access to capital and encourage better corporate governance.

For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.