CMA approves listing 30% stake of Theeb Rent a Car

The Capital Market Authority (CMA) approved today, Sept. 30, the listing of a 30% stake, or 12.9 million shares, of Theeb Rent a Car Co.

The company’s prospectus will be published within sufficient time ahead of the IPO, the market regulator said in a statement.

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.

The approval on the offering is valid for six months as of today, and will be cancelled if the offering and listing of the company's shares are not completed within this period, the statement noted.

Theeb Rent a Car Co., which commenced operations in 1991, has 44 branches across the Kingdom with a fleet size of more than 19,000 vehicles.