18 Hrs
Source:
الاقتصادية
‘Tasi’ proposal withdrawn despite support
Muttlaq Ghorayri Trading and Contracting Company (MGC) is the first company in the Saudi capital market to cancel its plans for listing, despite completing the institutional offering and reaching the maximum level of the price range. This raises questions about the timing of the listing and the stock's behavior after trading begins. The announcement of the postponement came even though institutional demand was sufficient, suggesting that the decision may be related to market conditions or performance expectations after the listing. This case occurs in the context of increasing global monetary tensions and their impact on company valuations, where market conditions, valuation levels, and shareholder preferences influence decisions to proceed with or cancel offerings even after the subscription has been completed.
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