Al-Modawat issues prospectus to float 475,000 shares on Nomu

Logo of Al-Modawat Specialized Medical

Al-Modawat Specialized Medical Co. issued today, Dec. 21, its prospectus to float 475,000 shares on the Nomu-Parallel Market.

The shares to be offered represent 20% of the post-IPO capital, which amounts to SAR 23.75 million.

On Sept. 28, the company obtained the Capital Market Authority’s (CMA) approval on the offering, which will run from Jan. 28 to Feb. 5, 2024.

The share sale will be limited to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority.

Al-Modawat is a closed Saudi joint stock company that was established in Muhayil Asir in 2014 under the name Muhayl National Hospital Co. It currently operates with SAR 19 million in capital.

The company's activities, according to its commercial register, include medical operation of hospitals, day surgery centers, as well as pharmacy and drug store activities.

Company Profile
Company	Al-Modawat Specialized Medical Co.
Market	Nomu-Parallel Market
Core Activities	Hospital Medical operations
Capital	SAR 19 mln
Capital after IPO	SAR 23.75 mln
Number of Shares after IPO	2.37 mln

IPO Summary
Issue Percentage	20% of post-increase capital (which represents 25% pre-increase capital)
Offered shares	475,000
IPO Minimum Limit	10 shares
IPO Maximum Limit	118,510 shares
Offer period	From Jan. 28 to Feb. 5, 2024
Final Allocation	Feb. 11, 2024
Refund (if any)	Feb. 13, 2024

Company Shareholders
Shareholders	Before IPO		After IPO
Shareholders	Number of shares (‘000 shares)	Ownership (%)	Number of shares (‘000 shares)	Ownership (%)
Values Holding Co.	1434.5	75.50%	1434.5	60.40%
Abdullah Ibrahim Mohammed Al-Yahia	93.10	4.90%	93.10	3.92%
Yahia Ibrahim Mohammed Al-Yahia	93.10	10.25%	93.10	3.92%
Yousef Ibrahim Mohammed Al-Yahia	93.10	4.90%	93.10	3.92%
Majd Ibrahim Mohammed Al-Yahia	93.10	4.90%	93.10	3.92%
Aziza Faez Zaher Henta	93.10	4.90%	93.10	3.92%
Qualified Investors	--	--	475.00	20.00%
Total	1,900.00	100%	2,375.00	100%

Additional Information
Financial Advisor and Lead Manager	Yaqeen Capital

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