A look at Five Colors share sale via Scopeer crowdfunding platform
04/03/2021 Argaam
Logo of Five Colors
Five Colors, a company specialized in cinema and media production, floated a percentage of its share capital through Scopeer equity-based crowdfunding platform, which is licensed by the Capital Market Authority (
CMA).
In July 2018, the Saudi market regulator granted Scopeer, a crowdfunding limited company, a Financial Technology Experimental Permit (ExPermit), to create equity crowdfunding platform. Scopeer was authorized to experiment the crowdfunding FinTech, which allows investors to participate in funding small and medium size enterprises in exchange for shares in such enterprises.
According to the company’s prospectus, Five Colors has SAR 500,000 in capital. Shareholders agreed on increasing this capital through offering a minimum of 3,290 shares, or 6.17% of capital, and a maximum of 24.76% of capital.