Logo of Nahdi Medical Co.
Nahdi Medical Co. announced the prospectus for the initial public offering (IPO) of 39 million shares, or 30% of its capital, on the Saudi Exchange (Tadawul).
Last December, the Capital Market Authority (CMA) approved the company’s request to sell part of its shares to the public in an IPO.
Retail investors’ subscription period runs for three days from March 13 -15.
The IPO targets two tranches, mainly:
Participating parties: This tranche comprises the parties entitled to participate in the book-building process as specified under the book-building instructions. The number of shares that will be allocated initially is 39 million, representing 100% of the total IPO. Final allocation of the offer shares will be made after the end of the subscription period for individual investors. The lead managers shall have the right to reduce the number of shares allocated to participating parties to 35.10 million shares, representing 90% of the total offer shares.
Retail investors: This tranche comprises Saudi Arabian natural persons, in addition to any non-Saudi natural person who is resident in the Kingdom or any GCC natural persons, provided they have a bank account with one of the receiving entities and are allowed to open an investment account. The number of shares offered for retail investors amounts to 3.9 million shares maximum, or 10% of the total offered shares.
Company Information:
Established in 1986 as a sole proprietorship, Nahdi Medical currently has a capital of SAR 1.3 billion divided into 130 million shares.
The company's main activities include pharmacy activities, drug warehouse activities and retail sales of equipment and medical supplies, in addition to wholesale of medical equipment and appliances.
The retail pharmacy chain provides its services through a network of 1,151 stores spread across 144 cities and villages, representing 97% of the Kingdom's population, in addition to managing three distribution centers across the Kingdom.
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Company Profile |
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Company |
Nahdi Medical Co. |
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Market |
Main market |
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Core Activities |
Pharmacy activities |
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Capital |
SAR 1.3 bln |
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Number of shares |
130 mln |
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IPO Summary |
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Issue percentage (%) |
30% |
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Number of shares offered |
39 mln |
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Qualified subscribers |
- Participating categories include investment funds, QFIs, legal entities and GCC investors
- Retail investors |
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IPO minimum limit for retail investors |
10 shares |
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Minimum size for institutional investors |
50,000 shares |
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Maximum limit for retail investors |
250,000 shares |
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Maximum limit for institutional investors |
6,499,999 shares |
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Registering requests period for institutional investors and book- building process |
March 1- 7 |
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Retail subscription period |
3 days from March 13-15 |
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Final allocation |
March 20 |
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Surplus refunds |
March 23 |
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Special Information |
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Financial advisors, lead managers, underwriters and institutional book runners |
HSBC Saudi Arabia, SNB Capital |
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Receiving banks |
Saudi National Bank, Al Rajhi Bank, Riyad Bank, Arab National Bank |
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Company Shareholders |
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Shareholders |
Before IPO |
After IPO |
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Number of shares (mln shares) |
Ownership (%) |
Number of shares (mln shares) |
Ownership (%) |
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SEDCO Holding |
65.00 |
50 % |
45.50 |
35 % |
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Al Nahdi Holding |
65.00 |
50 % |
45.50 |
35 % |
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Public |
-- |
-- |
39.00 |
30 % |
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Total |
130.00 |
100 % |
130.00 |
100 % |
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