CMA OKs Hamad Mohammed Bin Saedan’s 4.2M share sale on Nomu

Logo of Hamad Mohammed Bin Saedan Real Estate Co.

The Capital Market Authority (CMA) approved the application of Hamad Mohammed Bin Saedan Real Estate Co. to register and float 4.24 million shares on the Nomu-Parallel Market.

The shares to be offered account for 15% of the company’s 28.2 million shares.

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They will be offered to qualified investors stipulated in the glossary of defined terms used in the CMA regulations and rules. The prospectus will be published within sufficient time prior to the start of the offering.

The CMA confirmed that its approval is valid for six months and will be void if the share offering and listing are not completed within this period.

Hamad Mohammed Bin Saedan was founded in 2019 as a limited liability company, continuing the legacy of the real estate office established in 1969.

The company is active in the construction of residential and commercial complexes, as well as the development of residential and commercial plots, according to the company’s website.

Additionally, in partnership with Tharwat for Financial Securities Co., Hamad Mohammed Bin Saedan established a closed-end private real estate investment fund in accordance with the investment funds regulations issued by the Saudi market regulator.