The Capital Market Authority Announces the Approval on the Registration of shares of Watani Iron Steel Company for Direct Listing in the Parallel Market

Wednesday, December 30, 2020 at 5:19 PM

Wed Dec 30, 2020 17:19  

The Capital Market Authority "CMA" Board has issued its resolution dated 15/05/1442H corresponding to 30/12/2020G approving Watani Iron Steel  Company's ("the Company") application for the registration of its shares for direct listing in the parallel market. 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.

Prospective Qualified Investors should conduct their own due diligence on the information disclosed in the registration document. If the registration document 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 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 listing of the Company's shares are not completed within this period.