“Miyahuna” intends to offer 48,277,663 shares on the Saudi Stock Exchange for public subscription. Today, Wednesday, the Saudi Capital Market Authority approved Miyahana Company’s request to offer 30 percent of its shares for public subscription. The Authority said in a statement on its website that the company intends to register its shares on the stock exchange and offer 48,277,663 shares for public subscription.
According to the statement, the Authority’s approval of the request is valid for a period of 6 months from the date of the Council’s decision, and is considered void if the offering and listing of the company’s shares is not completed during this period. Miyahuna, which was established in 2008, is a developer and operator in a public-private partnership (PPP) of sustainable and integrated water solutions in water and wastewater projects for municipal and industrial facilities in Saudi Arabia.
According to the company’s website, “Miyahuna” serves more than two thousand customers in the government and private sectors and is affiliated with three companies: the Industrial Cities Development and Operations Company, the Riyadh Water Production Company, and Bee’ah Jazeera Company. It also has a strategic global partnership with the French “Saur” group and “Manila Water” from the Philippines. FINMA, which also supervises insurance companies, fund managers, and financial technology companies, said it conducted 732 investigations and completed 27 procedures against companies and individuals during 2023.
Regarding banking supervision, the authority said that it conducted 96 on-site supervisory reviews last year, including 57 longer supervisory reviews and 39 in-depth reviews.