Aldukheil Financial Group announces Saudi Networkers’ IPO prospectus on Nomu

Logo of Saudi Networkers Services Co.

Aldukheil Financial Group announced the prospectus of Saudi Networkers Services Co.’s (SNS) initial public offering (IPO) on Nomu-Parallel Market.

The offering will be confined to qualified investors, including the capital market institutions authorized to act on their own account; clients of a licensed capital market institution; Saudi government, any governmental body, any international entity approved by CMA or Saudi market, or any other financial market recognized by CMA or Securities Depository Center (Edaa); companies that are owned by the government, directly or through private portfolio manager; companies and funds established in the GCC countries; investment funds and natural persons allowed to open investment accounts in the Kingdom and with Edaa.

Qualified investors also include any other persons to be determined by CMA and natural persons who can open investment accounts inside the Kingdom and accounts at Edaa and who fulfill the following criteria: 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, net assets value is not less than SAR 5 million; working or has worked for at least three years in the financial sector; holds a general certificate in securities dealing, approved by CMA; holds a professional certificate in the field of securities business, approved by an internationally recognized body, or any other persons to be determined by CMA.

Saudi Networkers was founded at the end of 2001 in Riyadh to operate in the field of information technology (IT), offering services to different firms.

The company offers technical consultancy services in communications, IT, human resources, project management, sales and communication centers.