Theeb Rent a Car issues prospectus to float 12.90 mln shares on Tadawul

23/02/2021 Argaam


Theeb Rent a Car Company issued a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul). 

 

Theeb will float 12.90 million shares, or 30% of its share capital. 

 

The IPO targets two tranches:

 

Participating parties:

 

The tranche comprises all categories of investors entitled to participate in the book-building process.

 

A total of 12.90 million shares or 100% of the offering size will be allocated to the participating parties, subject to a scale-back to 90% or 11.61 million shares.

 

Retail investors

 

The tranche comprises Saudi nationals, including any Saudi female divorcees or widows with minor children from a non-Saudi father, and any non-Saudi natural person who is a resident in the Kingdom and any GCC national, in each case who has a bank account with one of the receiving entities.

 

Up to 10% of the offering size or 1.29 million shares will be allocated to this tranche.

 

The book-building process for the participating parties will run from March 7-15, 2021, while the one-day retail offering will open on March 21.

 

Company’s Profile

Market

Saudi Stock Exchange (Tadawul)

Company core activity

- Short-term rentals and the related services.

- Long-term leases and the related services, client solutions.

- Sales of the cars used by the company in both segments.

Capital

SAR 430 mln

 

IPO Summary

Issue percentage (%)

30%

Number of shares offered

12.90 mln

Qualified subscribers

- The participating categories which includes a group of qualified institutions, companies, foreign investors and Gulf investors with legal personality.

-Retail Investors

IPO minimum limit for retail

10 shares

IPO minimum limit for participating categories

100,000 shares

IPO maximum limit for retail

250,000 shares

IPO maximum limit for participating categories

2.149 mln shares

Requests recording period for participating categories and book building process

From March 7 to 15, 2021

Retail IPO period (One day)

March 21, 2021

Final allotment

March 29, 2021

Surplus refunds

March 29, 2021

 

Major Shareholders

 

Before IPO

After IPO

Shareholders

Number of shares

(mln shares)

Stake %

Number of shares

(mln shares)

Stake %

Hamoud Abdullah AlTheeb

14.15

32.90%

9.90

23.00%

Mohammed Ahmed Abdullah Al-Theeb

14.15

32.90%

9.90

23.00%

Growth Opportunities Company for Trading

12.90

30.00%

9.03

21.00%

Remaining shareholders

1.80

4.20%

1.27

3.00%

Public

--

--

12.90

30.00 %

Total

43.00

100 %

43.00

100 %

 

Additional Information

Financial advisor, lead manager, lead bookrunner

and underwriter

Saudi Fransi Capital

Institutional book runner

EFG-Hermes KSA

Receiving banks

Banque Saudi Fransi, NCB, Riyad Bank

 

For More IPOs

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