Riyadh – Mubasher: The Capital Market Authority (CMA) has issued its resolution approving the Saudi Arabian Oil Company, Saudi Aramco, application for the registration and offering of part of its shares.

Aramco’s prospectus will be published prior to the start of the subscription period, according to CMA’s statement on Sunday.

The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the Company's financial statements, activities and management.

“A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering and risk factors,” CMA said.

The authority’s approval on the application should never be considered as a recommendation to subscribe in the offering of any specific company.

“The CMA’s approval on the application shall be valid for 6 months from the CMA Board resolution date. The approval shall be deemed cancelled if the offering and listing of the Company's shares are not completed within this period,” the statement highlighted.

Last week, Aramco noted that it will list on the Saudi Stock Exchange (Tadawul) by 11 December.

Pricing of the long-waited Saudi Aramco’s initial public offering (IPO) will start on 17 November, with a final price for the float expected to be announced on 4 December.