The Capital Market Authority Announces the Approval on the Registration and Offering shares of Atlas Elevators General Trading & Contracting Company in the Parallel Market
The Capital Market Authority "CMA" Board has issued its resolution dated 16/11/1444H corresponding to 05/06/2023G approving Atlas Elevators General Trading & Contracting Company "the Company" application for the registration and offering of (1,200,000) shares representing (20%) of the Company's share capital in the Parallel Market. The offer will be confined to Qualified Investors stipulated in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority. The prospectus will be published within sufficient time prior to the start of the offering.
Prospective Qualified Investors should conduct their own due diligence on the information disclosed in the prospectus. If the prospectus proves difficult to understand, it is recommended to consult with an authorized financial advisor prior to making any investment decision.
The CMA’s approval on the application should never be considered as a recommendation to invest in the offering or shares of the company. The CMA’s approval on the application merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
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.