Logo of Al-Dawaa Medical Services Co.
Al-Dawaa Medical Services Co. (DMSCO) will begin trading on the Saudi Exchange (Tadawul) today, March 14, with the symbol 4163 and ISIN Code: SA15H14I11H6.
The stock will have daily price fluctuation limits of +/- 30% and static fluctuation limits of +/- 10%.
These fluctuation limits will apply in the first three days of listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10%, and the static price fluctuation limits will no longer apply.
Al-Dawaa's IPO will be the fourth to be seen on Tadawul's main market this year, after Elm Co. on Feb. 3, East Pipes Integrated Company for Industry on Jan. 24, and the IPO of Scientific & Medical Equipment House Co. on Jan. 31, 2022.
Last year witnessed nine IPOs, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co., solutions, International Company for Water and Power Projects (ACWA Power), Arabian Contracting Services Co. (Al Arabia), Nayifat Finance Co., Saudi Tadawul Group and Almunajem Foods Co.
Accordingly, the number of listed companies on Tadawul will rise to 196, excluding 17 REITs.
The company offered 25.5 million shares, representing 30% of its capital, of which 90% was allocated to participating parties and 10% to retail investors, according to data compiled by Argaam.
The retail offering was 2,515% oversubscribed, where each retail investor received a minimum of two shares, while the remaining shares will be allocated on a pro-rata basis, based on the demand size of every subscriber to total shares with an allocation factor of 0.5299%.
Company Profile
DMSCO was established 1991 as a sole proprietorship in the name of Mohammed Saad Al Faraj Commercial Services Est. One of its branches, called AlDawaa Pharmacies, was converted to a limited liability company in 2001.
In 2021, the company converted into a closed joint-stock company, under the name Al-Dawaa Medical Services Co., whose capital currently stands at SAR 850 million, divided into 85 million shares.
The company's main activity is focused on retail sale of pharmaceuticals. It undertakes and performs real estate activities, professional, scientific and technical activities, management consultancy, construction, education, and administrative and support services.
The company's manufacturing activities include the manufacture of pharmaceutical materials, chemical, and plant-based pharmaceutical products; manufacture of radioactive equipment, and medical electric devices; manufacture of medical and dentistry tools and equipment; repair of electronic and optical equipment.
The company also operates in transportation and storage, wholesale and retail trade; repair of motor vehicles and motorcycles.
The company owns 837 pharmacies situated in 13 administrative regions and 130 cities, provinces and governorates in the Kingdom. The company’s pharmacies include more than 27,000 products and 2,000 brands
Pharmacies Network |
||
Province |
No. of pharmacies |
Percentage of total revenues |
Eastern Province |
350 |
41% |
Central Province |
242 |
28% |
Northern Province |
119 |
14% |
Western Province |
73 |
10% |
Southern Province |
53 |
7% |
The company's pharmacies account for 14% of the market share in Saudi Arabia, based on revenue estimates for 2019.
The company has a fleet of more than 600 trucks and vehicles, which operate with state-of-the-art technology, tracking and routing systems.
It has two subsidiaries in the UAE and two others in Germany.
Al-Dawaa Medical Services Co. (Dubai): A 100%-owned subsidiary with AED 100,000 capital, which operates in marketing activity.
Glanzzen (Dubai): A 50%-owned subsidiary with AED 100,000 capital, which operates in marketing and healthcare management consultancy.
Höllinz (Germany): A 100%-owned subsidiary with EUR 25,000 capital. It operates in the award of licenses for marketing pharmaceutical products, consumer goods and foodstuff.
Rönzac (Germany): A 100%-owned subsidiary with EUR 25,000 capital. It operates in the award of licenses for marketing pharmaceutical products, consumer goods and foodstuff.
The company has 6,014 employees, including 1,815 Saudis and 4,199 non-Saudis.
Company Profile |
|
Company |
Al-Dawaa Medical Services Co. |
Status |
Active |
Market |
Tadawul |
Activities |
Medical services |
Capital |
SAR 850 mln |
Company Shareholders |
||||
Shareholders |
Before IPO |
After IPO |
||
Number of shares (mln shares) |
Ownership (%) |
Number of shares (mln shares) |
Ownership (%) |
|
Mawarid Holding Company |
42.50 |
50% |
29.75 |
35.00% |
Prince Turki bin Mohammed bin Fahad bin Abdulaziz Al Saud |
20.40 |
24% |
11.69 |
13.75% |
Mohammed Saad Butti Al-Farraj Al-Subaie |
7.86 |
9.25% |
6.80 |
8.00% |
Abdullah Saad Butti Al-Farraj Al-Subaie |
7.86 |
9.25% |
6.80 |
8.00% |
Waleed Mohammad Abdullah Al-Jaafari |
2.13 |
2.5% |
1.06 |
1.25% |
Hussah Saad Butti Al-Farraj Al-Subaie |
2.13 |
2.5% |
1.70 |
2.00% |
Nouf Saad Butti Al-Farraj Al-Subiye |
2.13 |
2.5% |
1.70 |
2.00% |
Others* |
-- |
-- |
-- |
-- |
Public |
-- |
-- |
25.50 |
30% |
Total |
85.00 |
100% |
85.00 |
100% |
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