Kinan International Real Estate Development Plans 3% Share Offering and NOMU Listing

Saudi Fransi Capital (“SFC”), acting as the financial advisor and lead manager for Kinan International Real Estate Development Company’s potential offering, has revealed the company’s intention to present 3.6 million ordinary shares, equivalent to 3% of its total shares, for listing on the parallel market.

As per the statement published on the Tadawul website, the company has received approval from the Saudi Exchange to list its shares on the parallel market, along with the Capital Market Authority’s approval for the registration and subscription offering of the company’s shares on the parallel market.

The company has specified that the final offering price will be determined for all subscribers after the conclusion of the book-building period. The offering period is scheduled to commence on Sunday, February 25, 2024, and will run until 3:00 pm on Thursday, February 29, 2024.