Qualified investors begin today subscribing to 480,000 shares of Al Ashghal Al Moysra on Nomu

Logo of Al Ashghal Al Moysra Co.

Qualified investors will start today, July 7, subscribing to 480,000 shares of Al Ashghal Al Moysra Co., which is set to list on the Nomu-Parallel Market at a price range of SAR 35-50 per share.

The offered shares represent 20% of the company's capital of SAR 24 million, divided into 2.4 million shares, at a par value of SAR 10.

For More IPOs

The subscription period for qualified investors will run until July 15.

This offering will bring the number of Nomu share offerings to 13 in 2024.

The Capital Market Authority (CMA) approved in March the company’s request to list and float its shares 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

Al Ashghal Al Moysra was established in 2013 in Sakaka, Al-Jouf, as a sole proprietorship. It was then converted into a closed joint-stock company.

The company's actual activity is represented in providing three key services: Maintenance, cleaning, and facility management and operation; provision of logistic and transport services Kingdom-wide; and carrying out some contracting work, namely construction, building and restoration of buildings.

Company Profile
Company	Al Ashghal Al Moysra Co.
Market	Nomu-Parallel Market
Core Activities	Facility management; provision of logistic and transport services Kingdom-wide; and carrying out some contracting work
Pre-IPO Capital	SAR 24 mln
Par Value	SAR 10/share

IPO Summary
Issue Percentage	20%
Offered Shares	480,000
IPO Minimum Limit	10 shares
IPO Maximum Limit	119,990 shares
Offer Period	Seven working days from June 7-15, 2024
Final Allocation	July 21, 2024
Surplus Refund (If any)	July 23, 2024

Company Shareholders
Shareholders	Pre-IPO		Post-IPO
Shareholders	Number of Shares (‘000)	Ownership (%)	Number of Shares (‘000)	Ownership (%)
Sobhi Maqat Farhan Al-Jawir	480	20%	384	16%
Hamida Afash Mohammed Al-Khalidi	480	20%	384	16%
Abdulaziz Sobhi Maqat Al-Jawir	480	20%	384	16%
Mohammed Sobhi Maqat Al-Jawir	480	20%	384	16%
Abdulrahman Sobhi Maqat Al-Jawir	480	20%	384	16%
Public (Qualified investors)	--	--	480	20%
Total	2400	100%	2400	100%

Additional Information
Financial Advisor & Lead Manager	Yaqeen Capital
Receiving Agents	Al Rajhi Capital - Riyad Capital - Alinma Investment - AlJazira Capital -Alawwal Invest - Derayah Financial - Saudi Fransi Capital - SNB Capital - Alistithmar Capital - Albilad Capital - ANB Capital

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