Introduction

Saudi Cool Trading has canceled its initial public offering (IPO) and will return the collected subscription amounts to subscribers starting Sunday, July 2, 2023.

Reasons for Cancellation

The company announced that it wanted to set a suitable time frame and explore the possibility of listing on the market at another time. The cancellation of the placement process is being carried out for the purpose of selecting and exploring relevant existing and future offering opportunities and listing of company shares.

Thanking Subscribers

The company thanked all subscribers for their confidence in the demand for subscription to the company’s shares.

Continuing Strategic Plan

The company said it will continue to work on its strategic plan to expand and leverage investment opportunities to grow its business.

Approval from Capital Market Authority

The Saudi Capital Market Authority had granted the Saudi Cool Trading Company’s request to list its shares and place 675,000 shares, representing 15% of its shares, on a parallel market.