CMA Greenlights Miahona Company’s Share Offering 

Saudi’s Capital Market Authority (CMA) has granted approval for the registration and initial public offering (IPO) of shares by Miahona Company. The decision, made by the CMA Board on 10/09/1445H corresponding to 20/03/2024G, allows Miahona Company to offer 48,277,663 shares representing 30% of its share capital to the public. 

Prior to the start of the subscription period, Miahona Company will publish its prospectus containing comprehensive information essential for investors to make informed decisions. This includes details about the company’s financial performance, activities, and management. 

Investors are reminded of the importance of carefully reviewing the prospectus before making any investment decisions, as failure to do so may pose significant risks. The prospectus provides insight into the company, the offering, and associated risk factors, enabling potential investors to assess the feasibility of participating in the offering. 

Should investors find the prospectus difficult to comprehend, it is advisable to seek guidance from an authorized financial advisor. It is crucial to note that the CMA’s approval of the application does not constitute a recommendation to subscribe to the offering. Rather, it indicates compliance with legal requirements outlined in the Capital Market Law and its Implementing Regulations. 

The CMA’s approval is valid for six months from the date of the board resolution. Failure to complete the offering and listing of shares within this period will result in the cancellation of the approval. 

Mohamed Souliman Aslam (pictured) is Group General Counsel at Miahona.