The Saudi Market Authority approves the offer of 30% of Amac shares.

Saudi Capital Market Authority Announced Grand Factories Mining Company (AMAC) Request to Register and Offer Its Shares in public subscription in the Saudi market.

The authority stated in a note, today, Wednesday, that it approved Amac’s request to offer 19.8 million shares for public subscription, representing 30% of the company’s shares.

The Authority has stated that the prospectus will be published sufficiently before the start of the subscription.

The prospectus will contain information and data that the investor should know before making an investment decision, including the financial statements of the company and adequate information on its business and management.

The Authority stated that the decision to sign without reviewing the prospectus and studying its content may involve high risks. Therefore, the investor should examine the prospectus, which contains detailed information on the company, the offer and the risk factors, and study it carefully in order to be able to assess the feasibility of investing in the offer in light of the associated risks and whether the content of the prospectus does not can be understood, it is preferable to consult a financial adviser authorized for him.

The Authority’s approval of the application should not be considered an endorsement of the feasibility of the investment in the offer or shares of the company concerned, since the Authority’s decision to approve the application implies compliance with the legal requirements under the Law on capital market and its implementing regulations.

The approval of the application by the Authority is valid for a period of 6 months from the date of the Authority’s decision and the approval is considered canceled in the event in which the offer and listing of the company’s shares are not completed during tale period.

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