The Capital Market Authority (CMA) approved the application received from Balady Poultry Co. for the registration of its shares for direct listing in Nomu- Parallel Market, the company said in a statement to Tadawul.
Trading these shares 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 registration document will be published within sufficient time prior to listing.
CMA’s approval on the application should never be considered as a recommendation to invest in the shares of the company, as it merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.
The approval is effective six months from the CMA’s resolution date. It will be deemed canceled if the offering and listing of the company’s shares are not completed within this period.