Qualified investors begin subscription to Amwaj International’s 600,000 shares today

Logo of Amwaj International Co.

Qualified investors start today, May 22, subscription to 600,000 shares, or 10% of Amwaj International Co.’s capital, on Nomu - Parallel Market, at SAR 72 per share.

The subscription period will run for four days until May 25, the company added.

This year, Nomu witnessed the initial public offerings (IPOs) of Gas Arabian Services Co. on Jan. 23, Raoom Trading Co. on Jan. 30, Al-Jouf Mineral Water Bottling Co. on Feb. 6, Arabian International Healthcare Holding Co. (Tibbiyah) on Feb. 15, Arabian Food & Dairy Factories Co. (FADECO) on May 11, and Ladun Investment Co. on May 22.

The Capital Market Authority (CMA) approved, on March 21, the application received from Amwaj International to register and offer 600,000 shares, or %10 of its capital, on the Nomu Parallel Market.
 

The offering will be confined to qualified investors, including the capital market institutions authorized to act on their own account; clients of a licensed capital market institution; the Saudi government, any governmental body, any international entity approved by CMA or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center (Edaa); companies that are owned by the government, directly or through private portfolio manager; companies and funds established in the GCC countries; investment funds and the natural persons allowed to open investment accounts in the Kingdom and with Edaa.    

Qualified investors also include any other persons to be determined by CMA and natural persons who can open investment accounts inside the Kingdom and accounts at the Securities Depository Center, and who fulfill the following criteria. They should have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months, have a net assets value not less than SAR 5 million, to be working or has worked for at least 3 years in the financial sector, to hold a general certificate in securities dealing, approved by CMA, and to hold a professional certificate in the field of securities business, approved by an internationally recognized body, or can be any other persons to be determined by CMA. 

Company Information

The company was established in 2005 as a Saudi closed joint stock company in Riyadh, with SAR 60 million in capital.

The company’s main activities include the installation of air conditioning systems, extension, maintenance and repair of air conditioning pipes. It also undertakes the wholesale of electronic and home appliances. The company also sells dinner ware, table ware, sanitary ware and their extensions, heaters and water tanks. The company is also engaged in the maintenance of home appliances, household and garden equipment.

In the IPO prospectus, the company said it currently has no plans to introduce any new business activities or products, but it will rather work on the development of its existing product portfolio and client needs.

Amwaj leverages on its brands while promoting its products, which boosts its competitive position. UGINE is Amwaj’s most renowned brand.

It has 20 leased properties across the Kingdom and has implemented the electronic registration of only one of these contracts. The company has no owned properties.