Riyadh – Mubasher: Food Development Co. Ltd. (FDC) announced issuing its prospectus for the initial public offering (IPO) on the parallel market – Nomu.

The company intends to offer 250 million shares, representing 20% of capital. The IPO started on 5 February and will close on 13 February.

The subscription output will be distributed over the contributing shareholders.

The Saudi stock Exchange (Tadawul) plans to launch Nomu - Parallel Market on 26 February, 2017, after the Capital Market Authority (CMA) issued the listing rules.