Riyadh – Mubasher: The Capital Market Authority (CMA) has granted its approval for the initial public offering (IPO) of Riyadh Cables Group Company, according to a bourse filing.

Riyadh Cables plans to list 33 million shares, which represent 22% of its share capital, on the Saudi Exchange (Tadawul).

In separate bourse disclosures, the CMA passed the requests of Nofoth Food Products Company and Al Ramz Real Estate Company to trade their shares on the Parallel Market (Nomu) of Tadawul.

Al Ramz Real Estate intends to list 3.33 million shares, equivalent to 10% of its share capital, while Nofoth would offer 288,000 shares, accounting for 12% of its share capital.

All of the three approvals were issued on 17 October 2022.