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Tuesday, April 23, 2024 8:26 GMT
Saudi-based Arabian Drilling Company (ADC) has received approval for an initial public offering of 26.7 million shares, representing 30% of the firm’s capital, on the Kingdom’s stock exchange.The Capital Market Authority’s approval shall be valid for six months from the authority’s board resolution date. It shall be deemed cancelled if the company’s offering is not completed within this period.