CMA green lights Saudi Home Loans 30% stake sale

Logo of Saudi Home Loans Co. (SHL)

The Capital Market Authority (CMA) approved a request by Saudi Home Loans Co. (SHL) to sell 30 million shares, or 30% of its share capital in an initial public offering (IPO).

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, the market regulator said in a statement.

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. This approval merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met.

The CMA's approval will be valid for six months from its date, and will be deemed cancelled if the offering and listing of the company's shares are not completed within this period.

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