Logo of Abdullah Al Othaim Investment Co.
Abdullah Al Othaim Investment Co. Issued today, May 18, the prospectus for its initial public offering (IPO) of 30 million shares on the Saudi Exchange (Tadawul).
On March 16, the Capital Market Authority (CMA) board approved the company’s application to float 30 million shares, or 30% of its share capital. The company’s capital is divided into 100 million shares.
Al Othaim Investment was established in 2005 in Riyadh.
The company’s business activities include the construction of all types of residential buildings; general construction of non-residential buildings such as, schools, hospitals, hotels, etc.; general construction of government buildings, erection of prefabricated constructions on the site; retail sale of games and toys in specialized stores, activities of government buildings cleaning services, and provision of maintenance services within facilities.
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 30 million, representing 100% of the total offer size. 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 27 million shares, representing 90% of the total offer shares.
Individual 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 that 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 million shares maximum, or 10% of total offered shares.
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Company Profile |
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Company |
Abdullah Al Othaim Investment Co. |
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Market |
Tadawul |
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Core Activities |
General onstruction of residential and non-residential buildings |
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Capital |
SAR 1 bln |
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Number of shares |
100 mln shares |
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IPO Summary |
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Issue percentage (%) |
30% |
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Number of offer shares |
30 mln shares |
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Qualified subscribers |
- Participating categories that include investment funds, QFIs, legal entities and GCC investors.
- Retail investors |
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Minimum limit for retail investors |
10 shares |
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Minimum limit for institutional investors |
100,000 shares |
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Maximum limit for retail investors |
250,000 shares |
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Maximum limit for institutional investors |
4,999,999 shares subject to the book building instructions |
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Offering period for participating parties and book-building period |
From May 26-June 1, 2022 |
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Retail subscription period |
From June 8-9, 2022 |
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Final allocation |
June 22, 2022 |
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Surplus refunds |
June 22, 2022 |
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Special Information |
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Financial advisor, lead manager, underwriter and institutional book runner |
GIB Capital |
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Receiving banks |
Saudi National Bank (SNB), Riyad Bank, Banque Saudi Fransi, Saudi British Bank (SABB), Alinma Bank, Meem – Gulf International Bank |
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Company’s Major Shareholders |
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Shareholders |
Before IPO |
After IPO |
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Number of shares (‘000 shares) |
Ownership (%) |
Number of shares (‘000 shares) |
Ownership (%) |
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Al Othaim Holding Co. |
60.35 |
60.35% |
60.35 |
60.35% |
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Abdullah Al Othaim Markets Co. |
13.65 |
13.65% |
-- |
-- |
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Abdullah Saleh Ali Al Otham* |
26.00 |
26.00% |
9.65 |
9.65% |
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Public |
-- |
-- |
30.00 |
30.00% |
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Total |
100.00 |
100.00% |
100.00 |
100.00% |
The direct ownership of Abdullah Saleh Al Othaim in the company, represents 26% of the its shares (prior to the IPO), while his indirect ownership accounts for 64.95% (prior to the IPO), resulting from his direct ownership of 100% of the shares of Abdullah Al Othaim Holding Co. The holding company owns 60.35% of the company’s shares, his direct ownership is 6% of Tadawul-listed Abdullah Al Othaim Markets (prior to the offering), which holds 13.65% of the company’s shares. His indirect ownership in Abdullah Al Othaim Markets stands at 27.33% through Al Othaim Holding Co. (prior to the offering).
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