The Capital Market Authority announces the Approval on the Registration and the Initial Public Offering of Arabian Drilling Company's Shares
Wednesday, June 29, 2022 at 5:23 PM
The Capital Market Authority ("CMA") Board has issued its resolution dated 30/11/1443H corresponding to 29/06/2022G approving Arabian Drilling Company's ("the company") application for the Registration and the offering of (26,700,000) shares representing (30%) of the Company's share capital. The Company’s prospectus will be published within sufficient time prior to the start of the subscription period.
The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the Company's financial statements, activities and management.
A subscription decision without reading the prospectus carefully or fully reviewing its content may involve high risk. Therefore, investors should carefully read the prospectus, which includes detailed information on the company, the offering and risk factors. Thus, providing potential investors the ability to evaluate the viability of investing in the offering, taking into consideration the associated risks. 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 subscribe in the offering of any specific 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.