The Capital Market Authority (CMA) has approve the National Medical Care Company’s plans for an initial public offering (IPO).
The CMA board has issued its resolution approving IPO of 13,500,000 shares representing 30.1 percent of the company’s share capital, according to a statement posted on the Tadawul website.
The offering will comprise 6,750,000 new shares representing 15.05 percent of the company’s capital in addition to 6,750,000 existing shares representing a further 15.05 percent of the company’s capital.
A portion of the offered shares will be allocated to mutual funds and authorized people, according to the statement.
The company’s shares will be offered from Feb.4 Feb. 10, once the book-building process is complete.
The company’s prospectus will be published within sufficient time prior to the start of the subscription period.
National Medical Care Company IPO backed
National Medical Care Company IPO backed
Saudi Arabia sees 21% jump in mining sector licenses since 2016
- The growth in the Kingdom’s mining sector licenses aligns closely with Saudi Arabia’s Vision 2030 objectives, launched in 2016
RIYADH: Saudi Arabia’s mining sector has shown sustained growth, with the number of mining licenses increasing from 1,985 in 2016 to 2,401 by the end of 2024, representing cumulative growth of 21 percent, according to the 2024 mineral wealth statistics from the General Authority for Statistics.
The data highlights a steady upward trend in recent years. Licenses rose to 2,100 in 2021, marking a 6 percent increase from the previous year.
The upward trajectory continued with 2,272 licenses in 2022, 2,365 in 2023, and 2,401 in 2024, reflecting expanding exploration and investment activity across the Kingdom’s mining sector. Building material quarries accounted for the largest share of mining permits, climbing from 1,267 licenses in 2021 to 1,481 by 2024.
Exploration licenses also recorded consistent growth, supporting the Kingdom’s broader push to develop its mineral resources.
Other categories of mining activity saw significant expansion, including 2,554 exploration licenses, 744 exploitation licenses, 151 reconnaissance licenses, and 83 surplus mineral ore licenses issued during the same period.
The growth in the Kingdom’s mining sector licenses aligns closely with Saudi Arabia’s Vision 2030 objectives, launched in 2016, which aim to diversify national income sources and strengthen non-oil sectors.
