Logo of Nayifat Finance Co.
Nayifat Finance Co. (NFC) announced issuing the prospectus for its planned initial public offering on the Saudi Exchange (Tadawul).
Nayifat plans to offer 35 million shares for IPO, representing 35% of the company's shares. The period of retail subscription will run from Nov. 7-8, 2021.
In September, the Capital Market Authority (CMA) approved the company's request to list a 35% stake, or 35 million shares.
- Participating parties: This tranche comprises the parties entitled to participate in the book building process as specified under the book building instructions.
A total of 35 million shares, or 100% of total offered shares, will be initially allocated for participating entities in the book building process. The lead manager for the corporate tranche, in case of sufficient number of applications from retail investors, shall have the right to reduce the number of shares allocated for participating entities to 31.50 million shares, or 90% of total offered shares.
- Retail investors: This tranche comprises Saudi nationals, including Saudi female divorcees or widows with minor children from a non-Saudi father. It also includes any non-Saudi natural person who is a resident in the Kingdom and any GCC national, who holds a bank account with one of the receiving entities. Retail subscribers will be entitled to subscribe to 3.5 million shares maximum, or 10% of total offered shares.
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Company Profile |
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Company |
Nayifat Finance Co. |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
Financing activity (providing retail and corporate financing solutions) |
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Capital |
SAR 1000 mln |
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IPO Summary |
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Issue percentage (%) |
35% |
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Number of shares offered |
35 mln shares |
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Qualified subscribers |
- Participating categories that include investment funds, QFIs, legal entities and GCC investors. - Retail investors |
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IPO minimum limit for retail |
10 shares |
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IPO minimum size for institutional investors |
100,000 shares |
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IPO maximum size for retail investors |
300,000 shares |
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IPO maximum size for institutional investors |
4,999,999 shares |
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Registering requests period Book building period |
six days from Oct. 21 to Oct. 28, 2021 |
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Retail subscription period |
two days from Nov. 7 to Nov. 8, 2021 |
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Final allotment |
Nov. 13, 2021 |
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Surplus refunds |
Nov. 15, 2021 |
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Company Shareholders |
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Shareholders |
Before IPO |
After IPO |
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Number of shares (mln shares) |
Ownership% |
Number of shares (mln shares) |
Ownership% |
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Falcom Holding Co. |
73.85 |
73.86% |
48.01 |
48.01% |
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Saud Huwaimel Farraj Al Dosari |
7.87 |
7.87% |
5.11 |
5.11% |
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Abdulaziz Saudi Omar Al Blehed |
7.25 |
7.25% |
4.71 |
4.71% |
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Others |
11.03% |
11.03% |
7.17% |
7.17% |
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Public |
-- |
-- |
35.0 |
35% |
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Total |
100 |
100% |
100 |
100% |
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Additional Information |
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Financial Advisor, lead bookrunner for corporates, lead underwriter and manager |
HSBC Saudi Arabia |
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Institutional Bookrunner and co-underwriter |
Saudi Fransi Capital - GIB Capital |
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Receiving banks |
SABB , Saudi National Bank, Al Rajhi Bank, Riyad Bank |
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