Logo of Alramz Real Estate Co.
Alramz Real Estate Co. issued today, Nov. 17, prospectus for its planned initial public offering (IPO) of 3.33 million shares, or 10% of its share capital, on Nomu-Parallel Market.
The Capital Market Authority (CMA) approved, on Oct. 17, the company's application to float part of its shares on Nomu, according to Argaam’s data.
The offering, which will be limited to qualified investors, will run between Dec. 13-14, 2022, the prospectus indicated.
Alramz was incorporated in 2016 as a closed Saudi joint stock company. It is specialized in selling residential units and complexes. Alramz developed and built more than 600 homes and units. It currently operates over 300 homes and residential spaces of over 400,000 square meters.
Its core activities include the purchase, sale and division of land plots, off-plan sales and renting owned or leased residential properties. It also manages and rents leased or owned non-residential properties. Alramz also operates in the general construction and renovation of residential and non-residential buildings, site levelling, finishings.
The following tables show the main details of Alramz IPO:
|
Company Profile |
|
|
Company |
Alramz Real Estate Co. |
|
Market |
Nomu-Parallel Market |
|
Core Activities |
Real Estate |
|
Current Capital |
SAR 300 mln |
|
Total Number of Shares |
30 mln |
|
Post-Offering Capital |
SAR 333.33 mln |
|
Post-Offering Number of Shares |
33.33 mln |
|
IPO Summary |
|
|
Issue Percentage |
10% |
|
Offered Shares |
3.3 mln |
|
Subscriber Eligibility |
Qualified investors |
|
Minimum Limit |
10 shares |
|
Maximum Limit |
333330shares |
|
Subscription Period |
Dec. 13-14, 2022 |
|
Final Allocation |
Dec. 15, 2022 |
|
Surplus Refund (if any) |
Dec. 20, 2022 |
|
Company Shareholders |
||||
|
Shareholder |
Pre-IPO |
Post-IPO |
||
|
Number of Shares (mln shares) |
Ownership (%) |
Number of Shares (mln shares) |
Ownership (%) |
|
|
Rasheed Abdulrahman N. Al Rasheed |
24.00 |
80.00% |
24.00 |
72.00% |
|
Fatima Abdullah N. Al-Majid |
0.75 |
2.50% |
0.75 |
2.25% |
|
Haya Rasheed Abdulrahman Al Rasheed |
0.58 |
1.94% |
0.58 |
1.75% |
|
Harun Rasheed Abdulrahman Al Rasheed |
1.17 |
3.89% |
1.17 |
3.50% |
|
Abdulmalik Rasheed Abdulrahman Al Rasheed |
1.17 |
3.89% |
1.17 |
3.50% |
|
Rakan Rasheed Abdulrahman Al Rasheed |
1.17 |
3.89% |
1.17 |
3.50% |
|
Mawdha Rasheed Abdulrahman Al Rasheed |
0.58 |
1.94% |
0.58 |
1.75% |
|
Sarah Rasheed Abdulrahman Al Rasheed |
0.58 |
1.94% |
0.58 |
1.75% |
|
Qualified Investors |
-- |
-- |
3.33 |
10.00% |
|
Total |
30.00 |
100% |
33.33 |
100% |
|
Additional Information |
|
|
Financial Advisor and Lead Manager |
ANB Capital |
|
Receiving Entities |
AlJazira Capital and SNB Capital |
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