‎Retail investors begin subscription to FADECO’s 282,000 shares today

‎Retail investors begin subscription to FADECO’s 282,000 shares today

Qualified retail investors begin today, May 11, subscription to 282,000 shares of Arabian Food & Dairy Factories Company (FADECO), or 20% of its capital, which will be listed on Nomu - Parallel Market between SAR 65 and 71 per share.

The subscription period for retail investors will run for three days until May 15.

FADECO's initial public offering (IPOs) will be the fifth on Nomu this year after floating of Gas Arabian Services on Jan. 23, Raoom Trading Co. on Jan. 30, Al-Jouf Mineral Water Bottling Co. on Feb. 6, and Arabian International Healthcare Holding Co. (Tibbiyah) on Feb. 15.

The Capital Market Authority (CMA) approved, on March 28, the application received from the company to register its shares for listing on Nomu.

Qualified retail investors include the following:

- Natural persons who can open investment accounts inside the Kingdom and accounts at the Securities Depository Center, and who fulfill the following criteria:

1) To have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months.

2) Net assets value is not less than SAR 5 million.

3) To be working or has worked for at least 3