East Pipes Integrated gets CMA nod to float 30% stake in IPO

Logo of the Capital Market Authority (CMA)

The Capital Market Authority (CMA) approved a request by East Pipes Integrated Company for Industry to float 6.3 million shares, or 30% of its share capital, in an initial public offering (IPO).

The offering will be limited to qualified investors, who should conduct their own due diligence on the information disclosed in the company’s prospectus, the market regulator said in a statement today, Sept. 29.

The approval on the offering is valid for six months as of today, Sept. 29, and will be cancelled if the offering and listing of the company's shares are not completed within this period.

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