Saudi Arabian regulator approves Amlak International’s share offering

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Saudi Arabia’s Capital Market Authority (CMA) approved Amlak International for Real Estate Finance Co’s request to offer about 27 million shares for public subscription, representing 30 percent of the company’s total share capital.

The company’s prospectus will be published within sufficient time before the start of the subscription period, the regulator said in a statement on Wednesday.

Amlak International, which provides real estate financing for individuals and companies, posted a 31 percent fall in its net profit for the first nine months of 2019, compared to a year earlier.

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