CMA nods to Mulkia Investment’s 20% stake sale on Nomu

Logo of Mulkia Investment Co.

The Capital Market Authority (CMA) approved today, June 22, the application received from Mulkia Investment Co. to register and sell 1.3 million shares, or 20% of its capital, on Nomu-Parallel Market, the market regulator said in a statement.

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. The prospectus will be published within sufficient time prior to the start of the offering, according to the statement.

The CMA’s approval is valid for six months from the date of its board's resolution. It will be deemed cancelled if the offering and listing of the company's shares are not completed within such a period.

Mulkia Investment is a Saudi closed joint stock company with share capital of SAR 65 million. Headquartered in Riyadh, Mulkia conducts its business pursuant to the laws and regulations issued by the Capital Market Authority (CMA) in Saudi Arabia.

Mulkia was licensed by the CMA. It commenced business in April 2014. It operates in securities business including dealing, custody securities, managing investments and operating fund managing investments, arranging financial advisor, corporate finance advisor and advising investment advisor. Mulkia provides diversified and integrated financial and investment services tailored to suit the goals of individuals and institutions of different types and sizes. Mulkia operates in the field of asset management, arranging corporate finance, financial advice and research. Mulkia Investment does not have any controlling shareholders.

Mulkia Investment is the fund manager of Mulkia Gulf Real Estate Fund.

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