Investors start subscription to ITMAM Consulting 3M shares on Nomu today

Logo of ITMAM Consulting Co.

Investors start today, Jan. 5, subscription to ITMAM Consulting Co.’s three million shares on the Nomu-Parallel Market. The price range was set between SAR 13 and SAR 15 a share.

The shares on offer represent 15% of the company's pre-initial public offering (IPO) capital of SAR 20 million, divided into 20 million shares at a nominal value of SAR 1 each, and 14.29% of the post-IPO capital.

The company's post-IPO capital will be raised to SAR 21 million, divided into 21 million shares, at a par value of SAR 1 each.

For More IPOs

The six-day subscription period ends on Jan. 12.

Today’s listings of ITMAM Consulting and Alshehili Co. mark the first IPOs of 2025.

Nomu witnessed 28 IPOs in 2024.

On Oct. 28, 2024, the Capital Market Authority (CMA) approved ITMAM Consulting’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 or natural persons entitled 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 also includes any other persons as defined by the CMA.

Company Profile:

ITMAM Consulting was established in 2018 in Riyadh. The company's current actual activity is to provide management consulting services, including business transformation, assessment and commitment, capacity building and development.

The company's activities, as stated in its commercial register, include rehabilitating and restructuring the administrative, financial and operational processes of establishments, providing senior management consulting services, market research and opinion polls, integrated administrative services activities for offices, business incubators and accelerators activities (requires a license from the Small & Medium Enterprises General Authority), organizing and managing exhibitions and conferences, organizing and managing crowds, and operating exhibition and conference centers and facilities.