16 hours ago
CMA OKs public offering of 30% in Shary Trading
The Capital Market Authority (CMA) approved today, June 25, Shary Trading Co. 's request to float nine million shares, or 30% of its capital, in a public offering.
The prospectus will be issued well ahead of the subscription start date, the CMA said in a statement.
It should include all the information and data needed by investors before decision-making, including the company's financial statements, business activity and management.
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An investment decision without reading the terms and conditions (T&Cs) carefully or fully reviewing its content may involve high risks, it added.
Therefore, investors should carefully read the T&Cs, which include detailed information on the company, investment strategy, and the associated risk factors.
If the T&Cs prove difficult to understand, it is recommended to consult an authorized financial advisor, the CMA added.
The market regulator's approval of the company's offering should not be considered as an investment recommendation.
The go-ahead merely means that the legal requirements as per the Capital Market Law and its Implementing Regulations have been met, the statement indicated.
