Subscription to Al-Fakhera’s 6M shares starts today on Nomu

Logo of Al-Fakhera Men's Tailoring Co.

Qualified investors started today, Nov. 3, subscribing to six million shares of Al-Fakhera Men's Tailoring Co. on the Nomu-Parallel Market, at SAR 5-6 apiece.

The shares on offer represent 20% of the company's pre-IPO capital of SAR 30 million, divided into 30 million shares at a par value of SAR 1 each. IPO shares account for 16.67% of post-IPO capital.

For More IPOs

The subscription period will run for seven days until Nov. 11.

The IPOs of Mufeed Co. and Al-Fakhera on Nomu today bring the total number of listings on the parallel market to 21 this year, following the cancellation of Al-Hokail Academy Specialized Digital Polyclinics Co.’s offering and the postponement of Kinan International for Real Estate Development Co.’s listing.

In June 2024, the Capital Market Authority (CMA) approved Al-Fakhera’s request to register and float its shares on Nomu.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own accounts. This is in addition to clients of capital market institutions authorized to carry out management operations, provided 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 or international entity approved by the CMA, the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center Co. (Edaa).

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

Additionally, the qualified investors include any legal person entitled to open investment accounts inside the Kingdom and with Edaa, as well as natural persons allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:

They should have executed transactions in the capital markets worth a minimum of 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 at least SAR 5 million and be working or have worked for at least three years in the financial sector.

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

The list of qualified investors includes also any other persons as defined by the CMA.

Company Profile

Al-Fakhera Men's Tailoring was established in March 1978 in Riyadh and has 68 branches. It specializes in tailoring and sewing men's clothing, accessories, and selling fabrics.

According to its commercial registration, the company's activities include tailoring Arab and non-Arab men's clothing and retail selling of clothing accessories and supplies.