Riyadh Steel issues supplementary prospectus for IPO on Nomu

Logo of Riyadh Steel Co.

Riyadh Steel Co. issued today, Oct. 22, the supplementary prospectus for the initial offering of its shares in Nomu-Parallel Market.

In accordance with Article 97 of the Securities Rules and Continuing Obligations issued by the Capital Market Authority, a supplementary prospectus shall be submitted to CMA if the issuer learns at any time after the date of the prospectus and before the completion of the offering of the following:

First: There is a significant change in fundamental matters contained in the prospectus.

Second: The emergence of any significant issues that should have been included in the prospectus.

The company stated that the changes made to some of the information contained in the preliminary prospectus included the following:

First: Amending some information contained in the offering summary table related to the maximum number of shares that can be subscribed to 249,990 shares, instead of 49,990 shares in the preliminary prospectus.

Second: Amending some information on the offering period and conditions, which also includes amending the maximum number of shares allowed for subscription.

The share sale will run from Nov. 5-13. It will be limited to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA), according to Argaam's data.

The company plans to offer 1 million shares, or 20% of its capital amounting to SAR 50 million, divided into 5 million shares.

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