Riyadh – Mubasher: The Capital Market Authority (CMA) approved the registration and the initial public offering (IPO) of Modern Mills for Food Products Company, while the prospectus will be published within sufficient time ahead of commencing the subscription period.

Modern Mills plans to float 24.54 million shares that represent 30% of its share capital, according to a bourse disclosure.

The CMA also gave its approval for Altaiseer Group Talco Industrial Company, known as Al Taiseer Aluminium Company, to list 12 million shares which account for 30% of its share capital.

It is worth noting that the two approvals were granted on 31 December 2023.

Meanwhile, United International Holding Company, a subsidiary of the listed firm United Electronics Company (eXtra), is expected to go public upon required approvals from eXtra’s shareholders, the CMA, and the Saudi Exchange (Tadawul).