Riyadh – Mubasher: The Capital Market Authority (CMA) in Saudi Arabia has given the green light for the initial public offering (IPO) of Tanmiah Food Company's shares on the Saudi Exchange (Tadawul).

Tanmiah will float 6 million shares that represent 30% of its capital, according to a bourse disclosure on Tuesday.

Tadawul said the company’s prospectus will be published within sufficient time prior to the start of the subscription period.