The Clap
The Saudi Capital Market Authority (CMA) approved Marafiq’s request to register its 73.09 million shares offered for public subscription, representing 29.24% of the company’s total shares.
The Deets
The CMA stated Marafiq’s prospectus will be published before the start of the subscription, indicating that approval of the request is valid for a period of 6 months, from the date of the council’s decision.
The approval shall be considered void if the offering and listing of the company’s shares are not completed during this period.
Marafiq
The company’s primary activity is to operate as a major energy supplier in the industrial cities of Jubail and Yanbu and provide power to oil and petrochemical facilities.
Company Owners
Marafiq was established in October 2000 as a joint stock company owned by 4 major shareholders, Saudi Aramco, SABIC, the PIF, and the Royal Commission for Jubail and Yanbu as the main shareholders.
Each shareholder holds 24.81% of the company, in addition to an 0.76% stake owned by private investors.
Marafiq IPO 🚀
