Logo of Knowledge Net Co.
KnowledgeNet Co. started today, Feb. 26, the book-building process and the qualified investors’ subscription to list 700,000 shares, or 20% of capital, on Nomu-Parallel Market at a price range of SAR 35-40 a share.
The book-building process for qualified investors will run from Feb. 26 until March 2.
The Capital Market Authority (CMA) approved, in December 2022, the company’s application on the planned initial public offering (IPO).
KnowledgeNet was established in 2000 as a limited liability company with a capital of SAR 500,000. In 2021, the firm converted into a closed joint-stock company, with its current capital at SAR 35 million.
The company is engaged in the wholesale of computers and their accessories (including the sale of printers and inks), software, as well as computer-integrated systems design. Its operations cater for over 45 clients in the financial sector across the Kingdom, UAE, Oman and Egypt.
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Company Profile |
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Company |
KnowledgeNet Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Wholesale of computers and accessories as well as software |
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Capital |
SAR 35 mln |
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Total Shares |
3.5 mln |
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IPO Summary |
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Issue Percentage |
20% |
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Offered Shares |
700,000 |
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Minimum Limit |
10 shares |
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Maximum Limit |
174,999 shares |
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Subscription Period |
From Feb. 26 to March 2, 2023 |
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Final Allocation |
March 7, 2023 |
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Refund (if any) |
March 9, 2023 |
KnowledgeNet's vision is aimed at the localization of the software sector in the region's markets, along with the exporting of the company’s products and services. This is through two main axes, the first of which is its products that constitute three main ventures.
The first is the TradeNet integrated order management system that automats the full cycle from order capture to settlement.
The second is Datability, which is a specialized, tech-independent portal and data solutions provider, mostly focusing on the banking sector. Lastly is Softmore, which is a cloud development platform designed to build enterprise solutions for KnowledgeNet and other companies.
The second axis is the strategic projects, represented in two types, the first of which is projects providing technical consulting or highly experienced and specialized consultants to clients. The second type is partnership projects with the private or public sectors through capital contribution.
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KnowledgeNet’s Subsidiaries |
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Subsidiary |
Details |
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Real Estate |
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KnowledgeNet for |
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Technical |
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Softmore |
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VeCentral Holdings Co. Ltd. |
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Daftar Information Technology Co. |
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PropertyNet |
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This came in addition to the company’s fintech investments via partnerships with entrepreneurs. In its prospectus, KnowledgeNet pointed to obtaining a trademark registration certificate for Blinq Fintech.
KnowledgeNet reported total revenue of nearly SAR 30.3 million in H1 2022, while net income reached approximately SAR 4.27 million in a year-earlier period.
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Revenue by Segment (SAR mln) |
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Segment |
2020 |
2021 |
June 2022 |
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Government Payments |
26.47 |
30.38 |
17.29 |
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Banking Maintenance & Technical Support |
12.74 |
9.03 |
7.09 |
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Program Licensing to Banking Segment |
6.70 |
9.60 |
5.94 |
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Total |
45.91 |
49.02 |
30.31 |
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Total Income |
18.9 |
14.9 |
9.9 |
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Net Income |
7.6 |
1.6 |
4.3 |
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Net Profit Margin |
17% |
3% |
14% |
Revenue from the Saudi market reached nearly SAR 27.4 million over the first six months of 2022, accounting for 90% of total revenue across all markets. Revenue from the UAE operations stood at approximately SAR 2.9 million, representing 10% of total revenue.
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Revenue by Market |
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Market |
2020 |
2021 |
June 2022 |
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Saudi Arabia |
85% |
93% |
90% |
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External Markets |
15% |
7% |
10% |
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