Alramz Real Estate issues prospectus for 10% stake sale on Nomu

Logo of Alramz Real Estate Co.

Alramz Real Estate Co. issued today, Nov. 17, prospectus for its planned initial public offering (IPO) of 3.33 million shares, or 10% of its share capital, on Nomu-Parallel Market.

The Capital Market Authority (CMA) approved, on Oct. 17, the company's application to float part of its shares on Nomu, according to Argaam’s data.

The offering, which will be limited to qualified investors, will run between Dec. 13-14, 2022, the prospectus indicated.

Alramz was incorporated in 2016 as a closed Saudi joint stock company. It is specialized in selling residential units and complexes. Alramz developed and built more than 600 homes and units. It currently operates over 300 homes and residential spaces of over 400,000 square meters.

Its core activities include the purchase, sale and division of land plots, off-plan sales and renting owned or leased residential properties. It also manages and rents leased or owned non-residential properties. Alramz also operates in the general construction and renovation of residential and non-residential buildings, site levelling, finishings.

The following tables show the main details of Alramz IPO:

Company Profile
Company	Alramz Real Estate Co.
Market	Nomu-Parallel Market
Core Activities	Real Estate
Current Capital	SAR 300 mln
Total Number of Shares	30 mln
Post-Offering Capital	SAR 333.33 mln
Post-Offering Number of Shares	33.33 mln

IPO Summary
Issue Percentage	10%
Offered Shares	3.3 mln
Subscriber Eligibility	Qualified investors
Minimum Limit	10 shares
Maximum Limit	333330shares
Subscription Period	Dec. 13-14, 2022
Final Allocation	Dec. 15, 2022
Surplus Refund (if any)	Dec. 20, 2022

Company Shareholders
Shareholder	Pre-IPO		Post-IPO
Shareholder	Number of Shares (mln shares)	Ownership (%)	Number of Shares (mln shares)	Ownership (%)
Rasheed Abdulrahman N. Al Rasheed	24.00	80.00%	24.00	72.00%
Fatima Abdullah N. Al-Majid	0.75	2.50%	0.75	2.25%
Haya Rasheed Abdulrahman Al Rasheed	0.58	1.94%	0.58	1.75%
Harun Rasheed Abdulrahman Al Rasheed	1.17	3.89%	1.17	3.50%
Abdulmalik Rasheed Abdulrahman Al Rasheed	1.17	3.89%	1.17	3.50%
Rakan Rasheed Abdulrahman Al Rasheed	1.17	3.89%	1.17	3.50%
Mawdha Rasheed Abdulrahman Al Rasheed	0.58	1.94%	0.58	1.75%
Sarah Rasheed Abdulrahman Al Rasheed	0.58	1.94%	0.58	1.75%
Qualified Investors	--	--	3.33	10.00%
Total	30.00	100%	33.33	100%

Additional Information
Financial Advisor and Lead Manager	ANB Capital
Receiving Entities	AlJazira Capital and SNB Capital

For More IPOs

Issue Prospectus

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