Kinan shelves plans for listing on Nomu

Kinan International for Real Estate Development Co. called off plans for listing on Nomu-Parallel Market, due to some developments that require the reissuance of a supplementary prospectus.

In a statement to Argaam, Kinan said a supplementary prospectus will be issued and the share sale will be postponed for a later stage, to protect the interest of the company and investors.

Kinan, which is 30%-owned by Savola Group, published its prospectus to offer 3.6 million shares, or 3% of its capital, on Nomu, Argaam earlier reported.

The share sale was scheduled to run from Feb. 25-29.

Source :Argaam