Water treatment firm Miahona has gotten regulatory approval to sell a 30% stake on Tadawul’s main market, according to a statement yesterday. The 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: Word that Miahona might go 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.

The IPO pace is picking up: Modern Mills is close to finalizing its IPO as it looks to list a 30% stake on the main market. The Fourth Milling Company is seeking a market debut before the end of June. Other listings in the pipeline include a 30% stake in electronic retailer eXtra’s highly profitable consumer finance arm, and labor agency Smasco. A unit of Singapore’s Olam Group, hypermarket operator Lulu, and Aster DM Healthcare are all exploring potential dual listings here.

A bunch on Nomu too: The CMA approved local contractor Al AshghalAlmoysra ’s offering of a 20% stake on parallel market Nomu, according to a statement. Last week, it approved Neft Alsharq for Chemical Industry and ASG Plastic Factory Co.’s offering of stakes of 20% and 10.6% on Nomu, respectively.

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