Burgerizzr issues IPO prospectus on Nomu

Logo of Burgerizzr

Shatirah House Restaurant Co., the exclusive owner and operator of the "Burgerizzr" restaurant chain, issued the prospectus for its initial public offering (IPO) on the Nomu parallel market.

The company is planning to sell 725,000 shares, or 29% of its capital, in the IPO.

Last June, the Capital Market Authority (CMA) approved the company’s request to offer 29% of its capital.

The IPO will be confined to qualified investors, according to CMA regulations.

Types of qualified investors:

- Capital market institutions authorized to act on their own account.

- Clients of capital market institutions, who are authorized to carry out management operations, provided that such authorized persons are appointed under terms that enable them to take decisions related to accepting the participation in the share offering and investment in the parallel market, on behalf of the client, without the need to obtain prior consent from the client.

- The Saudi government, any governmental body, any international entity approved by CMA or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center.

- Companies that are owned by the government, directly or through private portfolio manager.

- Companies and funds established in the GCC countries.

- Investment funds.

- Non-resident foreigners who are allowed to invest in the parallel market and who fulfill the requirements as stipulated in the guide of non-resident foreigners’ investments in the parallel market.

- Qualified foreign financial institutions.

- Any legal persons who have the right to open investment accounts inside the Kingdom, and accounts at the Securities Depository Center.

- Natural persons who can open investment accounts inside the Kingdom and accounts at the Securities Depository Center, and who fulfill the following criteria:

1) Have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months.

2) Have net assets value is not less than SAR 5 million.

3) Have worked or worked for at least 3 years in the financial sector.

4) Hold a general certificate in securities dealing, approved by CMA.

5) Hold a professional certificate in the field of securities business, approved by an internationally recognized body.

- Any other persons to be defined by CMA.