Logo of Saudi Home Loans
Saudi Home Loans (SHL) announced today, March 2, issuing the prospectus for its planned initial public offering (IPO) on the Saudi Exchange (Tadawul).
The group plans to sell 30 million shares, or 30% of its capital.
On Dec. 29, 2021, the Capital Market Authority (CMA) approved the company's request to go public.
SHL provides real estate financing services for individuals.
The subscription targets two tranches:
Participating parties:
The tranche comprises all categories of investors entitled to participate in the book-building process. A total of 30 million shares or 100% of the offer size will be allocated to the participating parties, subject to a scale-back to 90% or 27 million shares.
Retail investors:
This tranche comprises Saudi natural persons, and any non-Saudi natural person who is resident in the Kingdom and GCC persons, in each case who has a bank account with one of the receiving agents, and is entitled to open an investment account with them.
Up to 10% of the offer size or 3 million shares will be allocated to this tranche.
The book-building process for participating parties will run from March 15-21. The retail subscription period will begin on March 27 and end on March 29.
Riyad Capital was appointed as financial advisor, lead manager, institutional bookrunner and underwriter of the offering.
Arab National Bank (ANB) owns 40% of SHL, while Dar Al Arkan Real Estate Development holds 15%.
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Company Profile |
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Company |
Saudi Home Loans Co. (SHL) |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
Housing and real estate finance |
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Capital |
SAR 1 bln |
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Number of shares |
100 mln |
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IPO Summary |
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Issue percentage (%) |
30% |
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Number of shares offered |
30 mln |
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Qualified subscribers |
- Participating categories that 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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IPO Minimum limit for institutional investors |
100,000 shares |
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IPO maximum limit for retail investors |
250,000 shares |
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IPO Maximum limit for institutional investors |
4,999,999 shares |
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Bidding and Book-building period |
From March 15 to March 21, 2022 |
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Retail subscription period |
From March 27 to March 29, 2022 |
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Final allocation |
March 31, 2022 |
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Surplus refunds |
April 6, 2022 |
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Special Information |
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Financial advisor, lead manager, underwriter and book runner |
Riyad Capital |
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Receiving banks |
Riyad Bank, Al Rajhi 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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Arab National Bank |
40.00 |
40% |
28.00 |
28% |
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Dar Al Arkan |
15.00 |
15% |
10.50 |
10.5% |
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Kingdom Installment Co. |
9.00 |
9% |
6.30 |
6.3% |
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Yousef Al Shelash |
8.00 |
8% |
5.60 |
5.6% |
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Hathlool bin Saleh Al hathlool |
6.00 |
6% |
4.20 |
4.2% |
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Tareq Mohammed Al Jarallah |
6.00 |
6% |
4.20 |
4.2% |
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IFC |
5.00 |
5% |
3.50 |
3.5% |
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Abulatif bin Abdullah al Shelash |
5.00 |
5% |
3.50 |
3.5% |
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Inma Almadaen Co. |
4.00 |
4% |
2.80 |
2.8% |
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Daem Al Khaleej Co. |
2.00 |
2% |
1.40 |
1.4% |
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Public |
-- |
-- |
30.00 |
30% |
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Total |
100.00 |
100% |
100.00 |
100% |
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