Qualified investors begin subscribing to 1.5M Leaf Global shares on Nomu

Logo of Leaf Global

Qualified investors start today, May 26, subscribing to 1.5 million shares of Leaf Global Environmental Services, which is set to list on the Nomu-Parallel Market at a price range of SAR 46–50 per share.

The offered shares represent 30% of the company's capital of SAR 25 million, divided into five million shares, at a par value of SAR 5.

For More IPOs

The subscription period for qualified investors will run until May 30.

The offerings of Leaf Global and Neft Alsharq Company for Chemical Industries brought the number of Nomu share offerings to 12 in 2024.

The Capital Market Authority (CMA) approved on March 27 Leaf Global Environmental Services’ request to list and float 1.5 million shares, representing 30% of its share capital, on Nomu, Argaam reported.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account, as well as clients of capital market institutions authorized to carry out management operations.

This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.

The categories include the Saudi government, any government body or international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).

They also include companies owned by the government, either directly or through a portfolio managed by a market institution authorized to practice management operations, investment funds, in addition to companies and funds established in the GCC countries.

Investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu, qualified foreign financial institutions and any legal person entitled to open investment accounts inside the Kingdom and with Edaa.

Natural persons are also among the qualified investors allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria.

They should have executed transactions in the securities markets worth a total of no less than SAR 40 million, and at least 10 deals in each quarter during the past 12 months.

Natural persons should also have a net asset value of no less than SAR 5 million and be working or have worked for at least three years in the financial sector.

They should hold a general certificate in securities dealing, approved by the CMA, and a professional certificate in the field of securities business, approved by an internationally-recognized body.

The list of qualified investors includes any other persons to be defined by the CMA.

Company Profile

Established in 2018 in Riyadh, Leaf Global is a closed joint stock firm.

The company's actual activity is represented in environmental services, most notably environmental impact assessment, environmental compliance monitoring, construction management plans, ground surveys, environmental surveys, marine environment surveys, and marine monitoring such as water quality and seaweed, water, soil, and sediment analysis. This is in addition to developing coral reefs and planting mangroves.