Al Moammar Information issues IPO prospectus on Tadawul

Al Moammar Information Systems Co. issued a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul) after obtaining the approval of the Capital Market Authority (CMA) in December.

The company will float 4.8 million of its shares in a public offering.

The retail offering will run from March 17-21, 2019.

The IPO targets two tranches:

Institutional investors: Including all categories of investors entitled to participate in the book-building process. The company will offer 100 percent (4.8 million shares) of total offering size to institutional investors, subject to a scaleback to 90 percent (4.32 million shares).

Retail investors: Including Saudi and GCC individual investors. Up to 10% of the offering size (480,000 shares) will be allocated to individuals.

Major Shareholders
Shareholder	Number of shares before IPO (mln)	Stake	Number of shares after IPO (mln)	Stake
Ibrahim Al Moammar	5.53	34.56 %	3.87	24.20 %
Khalid Al Moammar	5.05	31.56 %	3.54	22.10 %
Other shareholders*	5.42	33.88 %	3.79	23.70 %
Public	--	--	4.80	30.00 %
Total	16.00	100 %	16.00	100 %

*Each shareholder owns stake below 5%.

Company’s Profile
Company	Al Moammar Information Systems
Market	TASI
Main activities	Providing services and integrated solutions for information technology and communications
Status	Active
Capital	SAR 160 mln

IPO Summary
Issue size	30%
Number of shares offered	4.80 mln shares
IPO Price	Will be determined through book building
Qualified subscribers	Categories contributing to book building- Saudi retail investors
IPO minimum for retail investors	10 shares
IPO minimum for institutional investors	100,000 shares
IPO maximum for retail investors	250,000 shares
IPO maximum for institutional investors	799,999 shares
IPO period for institutional investors and book building	Feb. 27- March 7
IPO period for retail investors	March 17-21
Allotment date	March 28
Surplus refund	March 28

Al Moammar Information Systems generated a net profit of SAR 11.81 million in H1 2018, versus net losses of SAR 8.86 million in year-earlier period.

Additional Information
Financial advisor, lead manager, underwriter	Saudi Fransi Capital
Receiving banks	BSF,Riyad, SABB

Income Statement (SAR mln)
Period	H1 2017	H1 2018	Variation
Revenue	253.95	395.52	+56%
Net Profit	(8.86)	11.81	--
Average number of shares (mln)	5.00	5.00	--
EPS (SAR/share)	(1.77)	2.36	--

Sales and Net Profit (SAR mln)
Period	2014	2015	2016	2017
Revenue	568.53	716.81	654.02	842.80
Net Profit	40.01	40.91	36.08	76.81
Average number of shares (mln)	5.00	5.00	5.00	5.00
EPS (SAR/share)	8.00	8.18	7.22	15.36

Balance Sheet (SAR mln)
Item	2014	2015	2016	2017	June 2018
Cash & cash equivalent	78.15	44.56	50.69	55.81	28.16
Current assets	405.35	532.47	538.58	732.18	853.46
Non-current assets	4.73	5.28	4.29	50.65	48.98
Total assets	410.08	537.75	542.87	782.82	902.44
loans	149.57	215.24	162.18	179.10	213.15
Current liabilities	256.41	366.51	360.17	485.77	629.07
Non-current liablities	8.93	10.91	11.91	138.63	113.24
Total liabilities	265.34	377.42	372.08	624.40	742.31
Capital	50.00	50.00	50.00	50.00	50.00
Shareholders’ equity	144.74	160.33	170.79	158.42	160.13

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