The Capital Market Authority (CMA) in Saudi Arabia approved requests for initial public offerings and listings in the main stock market (Tadawul) and the parallel market (Nomu). The CMA Board approved the request of the Arab Internet and Communications Services Company (STC Solutions) to offer 24 million shares for public subscription, representing 20 percent of the company’s share capital. According to a statement, CMA’s approval on the application shall be valid for six months from the resolution date.
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