The Capital Market Authority (“the Authority”) announces the issuance of its Board Resolution dated 12/10/1447 AH, corresponding to 31/03/2026 AD, approving the request of Petrolub Oil Company (“the Company”) to register its shares and offer (9,000,000) shares for public subscription, representing (30%) of the Company’s total shares. The prospectus will be published well in advance of the subscription period.
The prospectus contains the information and data that an investor needs to review before deciding whether or not to invest, including the company’s financial data and comprehensive information about its business and management.
Subscribing to an IPO without reviewing and studying the prospectus carries significant risks. Therefore, investors should carefully review the prospectus, which contains detailed information about the company, the offering, and risk factors, to assess the viability of investing in the offering given the associated risks. If the prospectus's contents are unclear, consulting a licensed financial advisor is recommended.
The Authority’s approval of the application should not be seen as an endorsement of the feasibility of investing in the offering or in the shares of the company concerned, as the Authority’s decision to approve the application means that the regulatory requirements have been complied with according to the Capital Market Law and its implementing regulations.
The Authority’s approval of the application shall be valid for a period of (6) months from the date of the Authority’s Board decision, and the approval shall be considered null and void if the offering and listing of the company’s shares is not completed during this period.