Munawla Cargo issues IPO prospectus to offer 200,000 shares on Nomu

Logo of Munawla Cargo Co.

Munawla Cargo Co. issued today, July 31, its prospectus to float 200,000 shares, or 20% of its SAR 10 million capital, on Nomu-Parallel Market.

The offering will run from Aug. 27-31.

Moreover, the offering will be confined to qualified investors, as stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA).

Established as a limited liability company in 1997, Munawla Cargo currently operates as a closed joint stock firm. Based in Dammam, the company specializes in freight services of all kinds.

Munawla Cargo's actual activity involves sea and land transport and shipping services, in addition to its air freight and logistical business.

In June, the CMA approved the application received from Munawla Cargo to register and sell 200,000 shares, or 20% of its capital, on Nomu.