CMA extends approval for Amlak International’s IPO until July 15

The Saudi Capital Market Authority (CMA) extended its approval for floating and listing Amlak International for Real Estate Finance Co.’s shares until June 15, the market regulator said in a bourse statement on Wednesday.

On Dec. 25, 2019, the CMA approved a request by Amlak International to float 27.18 million shares, or a 30% of its capital, in an initial public offering (IPO).

Amlak was established in 2017 as a closed joint-stock firm in Riyadh, with capital of SAR 906 million. The company’s main activity is to provide real estate financing solutions for individuals and companies, and offer financial and advisory support, according to data compiled by Argaam.