Riyadh awaits IPO tsunami
Published 29 Jun,2021 via Arab News - Economy DUBAI - The Capital Market Authority (CMA) on Monday approved a request by Arabian Internet and Communications Services Co. (STC Solutions) to float a 20 percent stake as part of an initial public offering (IPO).
The STC Solutions approval remains valid for six months from June 28. On the same day, the CMA also approved applications from Banan Real Estate Co. and Canadian Medical Center Co. to register shares for a listing on the Nomu Parallel Market.
Monday’s announcements come as anecdotal evidence indicates that there is a veritable tsunami of IPOs lined up for Tadawul later this year.
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Arab News