Miral debuts on Nomu today as 1st direst listing of 2024

Logo of Miral Dental Group

Miral Dental Clinics Co. started trading on the Nomu-Parallel Market today, May 29, as a direct listing, under the symbol 9604 and ISIN code SA162HI4M217, at SAR 100 per share.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively, the Saudi Exchange (Tadawul) said in a statement.

For More IPOs

In March, the Capital Market Authority (CMA) approved the company’s application to list its shares on Nomu, Argaam earlier reported.

Last April, Miral announced the registration document for the direct listing. The company set the price guidance at SAR 100 per share, according to Argaam's data.

This will be the first direct listing on Nomu in 2024, while shares of eight other companies were offered to qualified investors.

In 2023, Nomu witnessed 35 listings, including six direct listings and 29 offerings to qualified investors plus one REIT.

Miral will bring the total number of companies on Nomu to 87, in addition to Alwaha REIT Fund.

Company Profile:

Miral was established in Riyadh in 2002 as a sole proprietorship, before being transformed into a closed joint stock company in 2021. Its activities, as stated in its commercial register, are specialized medical complexes and medical clinics. Meanwhile, its current actual activity is therapeutic and cosmetic dental clinics.

Company Profile
Company	Miral Dental Group
Market	Nomu-Parallel Market
Core Activities	Medical complexes
Status	Active
Capital	SAR 20 mln

Direct Listing Profile
Number of Shares	2 mln
Nominal Value	SAR 10
Price Guidance Upon Listing	SAR 100
Method of Setting Opening Price	The opening price shall be set based on the supply and demand for the stock through the pre-opening auction mechanism. During this period, investors can place buy/sell orders, after which the trading system defines the fair price at which orders are executed after being matched during the auction period. The execution price will be the opening price, with a +/-30% daily fluctuation limit The price guidance is considered a reference only for the fair market value, which is the debut price for the first day only
Qualified Investors	- QFIs - Current shareholders (Excluding owners of 5% or more, to whom the lock-up period shall apply)

Company Shareholders
Shareholders	Pre-Direct Listing
Shareholders	Number of shares (‘000)	Ownership (%)
Mohammed Ibrahim Abdul Karim Al-Obaida	340.0	17%
Sami Abdullah Dakhil Allah Al-Saeed	340.0	17%
Abdul Rahman Abdullah Hamoud Al Luhaidan	340.0	17%
Fahd Abdullah Saleh Al-Tasan	340.0	17%
Abdul Mohsen Abdullah Abdul Mohsen Al-Jammaz	340.0	17%
Ibrahim Mansour Mohammed Al-Rajhi	240.0	12%
Fares Mansour Mohammed Al-Rajhi	60.0	3%
Total	2000.00	100%

Additional Information
Financial Advisor	Yaqeen Capital

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