Capital Market Development Authority (CMDA) has appointed a principle advisor to assist in the corporate proposals and prospectus from companies who wish to sell shares.
CMDA stated that Noonu Velidhoo, Asdhoo, Mohamed Areef, was registered as a principle advisor upon application. The Authority stated that the purpose of appointing principle advisors is to maintain the quality of the prospectus and to make sure that future prospectus followed the guidelines as public shares are being traded.
CMDA stated that its principle advisors are appointed according to the regulation and that only the applicants deemed worthy are being registered. The authority stated that the applications are still open and that the registration is in progress.