Riyadh – Mubasher: The Capital Market Authority (CMA) passed the initial public offerings (IPOs) of First Milling Company and Lumi Rental Company to float their shares on the Saudi Exchange (Tadawul).
Each company plans to list 30% of its share capital, according to bourse disclosures.
First Milling and Lumi Rental intend to offer 16.65 million shares and 16.50 million shares, respectively.
In addition, the CMA greenlighted the requests of Saudi Call Trading and Abdul Aziz Al Tuwaijri Trading Company to list their shares on the Parallel Market (Nomu) of Tadawul.
Saudi Call plans to trade 675,000 shares (15% of share capital), while Abdul Aziz Al Tuwaijri is set to offer 600,000 shares (13.04% of share capital).
It is worth noting that the four approvals were issued on 29 March 2023.