CMA approves registration of Obeikan Glass for direct listing on Nomu

Logo of Obeikan Glass Co.

Saudi Arabia’s Capital Market Authority (CMA) approved the application of Obeikan Glass Co. (ACG) to register its shares for direct listing in the Parallel Market (Nomu).

The approval on the application will be valid for six months from the CMA Board resolution date, according to a statement.

In January, Saudi Advanced Industries Co.’s (SAIC) 40%-owned affiliate, Obeikan Glass appointed Falcom Financial Service Co. as financial advisor for its offering (IPO) on Nomu, Argaam reported.

Obeikan Glass was established in 2007 as a closed joint-stock company. Its main activity is manufacturing of float glass with a production capacity up to 292,000 tons per year. In addition, it attends to wholesale and retail of all types of glass and raw materials for manufacturing glass, accessories and others.

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