Al Saif Gallery issues prospectus to list 10.5 mln shares on Tadawul

Alsaif Gallery logo

Al-Saif Stores for Development & Investment Co. (Alsaif Gallery) issued today the prospectus to list 10.5 million shares on the Saudi Exchange (Tadawul).

The company obtained on Sept. 28 the Capital Market Authority’s (CMA) approval to float 10.5 million shares on the Saudi Exchange (Tadawul).

The planned-to-be-offered stake represents 30% of the company’s share capital reaching 35 million shares.

The offered shares will be to two categories:

- Participating parties: Those who are qualified to participate in the book building process, to which all offered shares (100%) were allocated. In the event that retail investors fully subscribe to their allocated shares, the financial advisor will have the right to reduce the number of their allocated shares to 90% of total offered shares, at 9.45 million as a minimum.

- Retail investors: Saudi nationals, residents in the Kingdom, nationals of GCC states, to which 1.05 million shares were allocated as a minimum.

The company's board is currently chaired by Suleiman bin Mohammed bin Saleh Al-Saif, who owns 92.5% pre-IPO. His ownership post-IPO will reach 62.5%.

Established in Riyadh on June 9, 1993, the company currently operates in retail sale of home utensils. It operates 58 stores in 29 Saudi cities, under Al-Saif Gallery branch, in addition to an online store that targest clients in Saudi Arabia and the GCC.

Company Profile
Company	Al-Saif Stores for Development and Investment Co. (Al Saif Gallery)
Market	Saudi Exchange (Tadawul)
Core Activities	Retail sale of home utensils and appliances.
Capital	SAR 350 mln
Number of Shares	35 mln shares

IPO Summary
Issue Percentage	30%
Number of shares offered	10.50 mln shares
Qualified subscribers	- Participating categories that include investment funds, QFIs, legal entities and GCC investors. - Retail investors
IPO minimum limit for retail investors	10 shares
Minimum size for institutional investors	50,000 shares
IPO maximum size for retail investors	250,000 shares
Maximum size for institutional investors	1,749,999 shares, and with respect to public funds only, provided it does not exceed the maximum limit for each participating fund, which is determined as per book building instructions.
Registering requests period Book building period	From Nov. 22 to Nov 28, 2022
Retail Offering	From Dec. 5 to Dec 6, 2022
Final Allocation	Dec. 14, 2022
Surplus refunds	Dec. 14, 2022

Special Information
Financial Advisor, Lead Manager, Underwriter and Book Runner	Saudi Fransi Capital
Receiving Banks	Banque Saudi Fransi - Saudi National Bank

Major Shareholders
Shareholders	Before IPO		Post-IPO
Shareholders	Number of Shares (‘000 shares)	Ownership (%)	Number of Shares (‘000 shares)	Ownership (%)
Sulaiman bin Mohammed bin Saleh Al-Saif	22375	92.5%	21875	62.5%
Haila bin Abdullah bin Saleh Al-Saif	350	1.0%	350	1.0%
Ahmed bin Sulaiman bin Mohammed Al-Saif	350	1.0%	350	1.0%
Mohammed bin Sulaiman bin Mohammed Al-Saif	350	1.0%	350	1.0%
Haitham bin Sulaiman bin Mohammed Al-Saif	350	1.0%	350	1.0%
Mohannad bin Sulaiman bin Mohammed Al-Saif	350	1.0%	350	1.0%
Asmaa bint Sulaiman bin Mohammed Al-Saif	175	0.5%	175	0.5%
Maha bint Sulaiman bin Mohammed Al-Saif	175	0.5%	175	0.5%
Manal bint Sulaiman bin Mohammed Al-Saif	175	0.5%	175	0.5%
Ibtihal bint Sulaiman bin Mohammed Al-Saif	175	0.5%	175	0.5%
Alaa bint Sulaiman bin Mohammed Al-Saif	175	0.5%	175	0.5%
Public	--	--	10500	30%
Total	35000	100.00%	35000	100.00%

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