TAM Development publishes prospectus to float 585,600 shares on Nomu

Logo of TAM Development Co.

TAM Development Co. published its prospectus to offer 585,600 shares, or 16% of capital, on Nomu-Parallel Market.

The CMA approved the company's offering on Dec. 29, 2022.

The initial public offering (IPO) will run from May 21-25 for qualified investors.

TAM operates with SAR 36.6 million capital, divided into 3.66 million shares.

The company, as per its commercial register, specializes in public relations and communication, senior management consulting, ad institutions and agencies, market research and opinion polls, as well as business incubators and accelerators.

Company Profile
Company	TAM Development Co.
Market	Nomu-Parallel Market
Core Activities	Providing advisory services, as well as project and technical solutions management
Capital	SAR 36.60 mln

IPO Summary
Issue Percentage	16%
Offered Shares	585,600
Minimum Limit	10 shares
Maximum Limit	182,990 shares
Offer Period	May 21-25, 2023
Final Allocation	May 30, 2023
Refund (If any)	June 1, 2023

Company Shareholders
Shareholders	Pre-IPO		Post-IPO
Shareholders	Number of Shares (‘000 shares)	Ownership (%)	Number of Shares (‘000 shares)	Ownership (%)
Abdullah Anwar Muhammad Yusuf Andjani	890.73	24.34%	732.38	20.01%
Ain Development Investment Co.	734.78	20.08%	604.15	16.51%
Salem Salah Salem Bamakhrama	523.31	14.30%	430.28	11.76%
Maalem Al Masah Real Estate Co.	511.43	13.97%	420.51	11.49%
Faisal Business Co.	329.40	9.00%	270.84	7.40%
Ahmed Mazen Ahmed Al-Shugairi	117.70	3.22%	96.78	2.64%
Emad Ali Yahya Daghriri	94.71	2.59%	77.88	2.13%
Fatima Fayez Ibrahim Badr	91.92	2.51%	75.58	2.07%
Treasury shares	365.99	10.00%	356.99	10.00%
Qualified Investors	--	--	585.60	16.00%
Total	3660.00	100%	3660.00	100%

Additional Information
Financial Advisor and Lead Manager	Yaqeen Capital

For More IPOs

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