Al-Babtain Holding gets CMA nod for Nomu listing

Saudi Arabia’s market regulator, the Capital Market Authority (CMA), on Wednesday approved the listing of a 25.3 percent stake, or 5.7 million shares of Al-Babtain Holding Investment Co. on the Nomu parallel market.

The initial public offering (IPO) will be confined to qualified investors, who will conduct their own due diligence and hire an authorized financial advisor if necessary, the market regulator said in a statement.

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