The Saudi Market Authority agrees to offer 30% of the shares of “Al-Watania Industries” for subscription
The Saudi Capital Market Authority approved the request of the National Industrial Company to register its shares and offer 24 million shares for public subscription, representing 30% of the company’s total shares.
The Authority said in a statement today, Wednesday, that the prospectus will be published well in advance of the subscription start date.
She added that the prospectus will contain the information and data that the investor needs to see before making the decision to invest or not, including the company’s financial statements and comprehensive information about its activities and management.
She explained that the decision to subscribe without reviewing the prospectus and studying its content may involve high risks. Therefore, the investor must review the prospectus, which contains detailed information about the company, the offering and the risk factors, and study it carefully to be able to estimate the feasibility of investing in the offering or not in light of the associated risks, and in the event that it is not possible to understand the contents of the prospectus, it is preferable to consult a licensed financial advisor for him.
She indicated that the Authority’s approval of the application should not be seen as an endorsement of the feasibility of investing in the offering or in the shares of the concerned company, as the Authority’s decision to approve the application means that the statutory requirements have been complied with according to the Capital Market Law and its implementing regulations.
She revealed that the Authority’s approval of the application is valid for a period of 6 months from the date of the Authority’s Board decision, and the approval is considered canceled if the offering and listing of the company’s shares are not completed during this period.
