Riyadh - Mubasher: Al Ramz Real Estate Company cancelled its initial public offering (IPO) on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).
In a bourse disclosure, the Saudi firm said: “It would be in the best interests of its shareholders and investors to return to the market at a later stage.”
Last November, Al Ramz settled the price range for its IPO at SAR 61–67 per share after it had obtained the Capital Market Authority’s (CMA) approval to trade 3.33 million shares, accounting for 10% of its share capital, on Nomu.
