Water treatment firm Miahona has received regulatory approval to sell a 30% stake on Tadawul’s main market, according to a statement. Saudi’s Capital Market Authority did not provide further details other than to offer its standard note that Miahona’s prospectus would be published “within sufficient time prior to the start of the subscription period.”

About the firm: Established in 2008, Miahona is a local developer and operator of sustainable solutions in urban water and wastewater projects. It has over SAR 1 bn worth of investments in water and wastewater assets here. It is a fully owned portfolio company of local investment holding company Vision Invest.

We’ve been expecting this: Plans of Miahona going public first surfaced in October, with sources telling Bloomberg last year that the water treatment firm could raise up to a couple hundred mn USD from the offering.

Tags: