Alsaif Gallery logo
Al-Saif Stores for Development & Investment Co. (Alsaif Gallery) issued today the prospectus to list 10.5 million shares on the Saudi Exchange (Tadawul).
The company obtained on Sept. 28 the Capital Market Authority’s (CMA) approval to float 10.5 million shares on the Saudi Exchange (Tadawul).
The planned-to-be-offered stake represents 30% of the company’s share capital reaching 35 million shares.
The offered shares will be to two categories:
- Participating parties: Those who are qualified to participate in the book building process, to which all offered shares (100%) were allocated. In the event that retail investors fully subscribe to their allocated shares, the financial advisor will have the right to reduce the number of their allocated shares to 90% of total offered shares, at 9.45 million as a minimum.
- Retail investors: Saudi nationals, residents in the Kingdom, nationals of GCC states, to which 1.05 million shares were allocated as a minimum.
The company's board is currently chaired by Suleiman bin Mohammed bin Saleh Al-Saif, who owns 92.5% pre-IPO. His ownership post-IPO will reach 62.5%.
Established in Riyadh on June 9, 1993, the company currently operates in retail sale of home utensils. It operates 58 stores in 29 Saudi cities, under Al-Saif Gallery branch, in addition to an online store that targest clients in Saudi Arabia and the GCC.
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Company Profile |
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Company |
Al-Saif Stores for Development and Investment Co. (Al Saif Gallery) |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
Retail sale of home utensils and appliances. |
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Capital |
SAR 350 mln |
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Number of Shares |
35 mln shares |
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IPO Summary |
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Issue Percentage |
30% |
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Number of shares offered |
10.50 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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IPO minimum limit for retail investors |
10 shares |
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Minimum size for institutional investors |
50,000 shares |
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IPO maximum size for retail investors |
250,000 shares |
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Maximum size for institutional investors |
1,749,999 shares, and with respect to public funds only, provided it does not exceed the maximum limit for each participating fund, which is determined as per book building instructions. |
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Registering requests period Book building period |
From Nov. 22 to Nov 28, 2022 |
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Retail Offering |
From Dec. 5 to Dec 6, 2022 |
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Final Allocation |
Dec. 14, 2022 |
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Surplus refunds |
Dec. 14, 2022 |
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Special Information |
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Financial Advisor, Lead Manager, Underwriter and Book Runner |
Saudi Fransi Capital |
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Receiving Banks |
Banque Saudi Fransi - Saudi National Bank |
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Major Shareholders |
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Shareholders |
Before IPO |
Post-IPO |
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Number of Shares (‘000 shares) |
Ownership (%) |
Number of Shares (‘000 shares) |
Ownership (%) |
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Sulaiman bin Mohammed bin Saleh Al-Saif |
22375 |
92.5% |
21875 |
62.5% |
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Haila bin Abdullah bin Saleh Al-Saif |
350 |
1.0% |
350 |
1.0% |
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Ahmed bin Sulaiman bin Mohammed Al-Saif |
350 |
1.0% |
350 |
1.0% |
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Mohammed bin Sulaiman bin Mohammed Al-Saif |
350 |
1.0% |
350 |
1.0% |
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Haitham bin Sulaiman bin Mohammed Al-Saif |
350 |
1.0% |
350 |
1.0% |
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Mohannad bin Sulaiman bin Mohammed Al-Saif |
350 |
1.0% |
350 |
1.0% |
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Asmaa bint Sulaiman bin Mohammed Al-Saif |
175 |
0.5% |
175 |
0.5% |
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Maha bint Sulaiman bin Mohammed Al-Saif |
175 |
0.5% |
175 |
0.5% |
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Manal bint Sulaiman bin Mohammed Al-Saif |
175 |
0.5% |
175 |
0.5% |
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Ibtihal bint Sulaiman bin Mohammed Al-Saif |
175 |
0.5% |
175 |
0.5% |
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Alaa bint Sulaiman bin Mohammed Al-Saif |
175 |
0.5% |
175 |
0.5% |
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Public |
-- |
-- |
10500 |
30% |
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Total |
35000 |
100.00% |
35000 |
100.00% |
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