The Saudi Capital Market Authority approved the request of Theeb Rent a Car Company to offer 12.9 million shares for public subscription, representing 30% of the company's shares.
According to Arabiya Net, the Authority said in a statement to the Saudi Stock Exchange that the subscription decision without reviewing the prospectus and studying its content may involve high risks.
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Therefore, the investor must review the prospectus, which contains detailed information about the company, the offering and the risk factors, and carefully study it in order to be able to assess the feasibility of investing in the offering or not in the In light of the associated risks, and in the event that it is not possible to understand the contents of the prospectus, it is preferable to consult a licensed financial advisor.
The approval of the Authority on the application should not be seen as an endorsement of the feasibility of investing in the offering or in the shares of the company concerned, as the Authority’s decision to approve the application means that The statutory requirements have been complied with according to the Capital Market Law and its implementing regulations.
The approval of the authority on the application is effective for a period of 6 months from the date of the authority's decision, and the approval is canceled if the offering and listing of the company's shares is not completed during this period.
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