Naba Alsaha sets final price for IPO on Nomu at SAR 57/share

Logo of Naba Alsaha Medical Services Co.

Aldukheil Financial Group (AFG), the financial advisor on the potential offering of Naba Alsaha Medical Services Co., announced that the offering price was set at SAR 57 per share.

Qualified investors can now subscribe to the offered shares via the electronic channels of the receiving entities Derayah Financial Co. and Al Rajhi Bank, AFG said in a statement.

The subscription period will run from Aug. 8-14, at 4 pm.

In June, the Capital Market Authority (CMA) approved Naba Alsaha’s application to offer 1.4 million shares, representing 20% of its share capital, on Nomu.

The offering will be confined to Qualified Investors defined as follows:

- Capital Market Institutions acting for their own account.

- Clients of a Capital Market Institution authorised by the Authority to conduct managing activities provided that this Capital Market Institution has been appointed as an investment manager on terms which enable it to make decisions concerning the acceptance of an offer and investment in the Parallel Market on the client’s behalf without obtaining prior approval from the client.

- The Government of the Kingdom, any government body, any supranational authority recognised by the Authority or the Exchange, and any other stock exchange recognised by the Authority or the Depository Center.

- Government-owned companies either directly or through a portfolio managed by a Capital Market Institution authorised to carry out managing activities.

- Companies and funds established in a member state of the Cooperation Council for the Arab States of the Gulf.

- Investment Funds.

- Non-resident foreigners permitted to invest in the Parallel Market and who meet the requirements stipulated in the Guidance Note for the investment of Non-Resident Foreigners in the Parallel Market.

- Qualified foreign financial institutions.

- Any other legal persons allowed to open an investment account in the Kingdom and an account at the Depository Center.

- Natural persons allowed to open an investment account in the Kingdom and an account at the Depositary Center, and fulfil any of the following criteria:

1- has conducted transactions in security markets of not less than 40 million Saudi riyals in total, and not less than ten transactions in each quarter during the last twelve months.

2- his net assets are not less than 5 million Saudi Riyals.

3- works or has worked for at least three years in the financial sector.

4- holds the General Securities Qualification Certificate which is recognised by the Authority.

5- holds professional certificate that is related to securities business and accredited by an internationally recognized entity.

- Any other persons prescribed by the authority.

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