Logo of Atlas Elevators General Trading & Contracting Co.
Atlas Elevators General Trading & Contracting Co. issued today, Aug. 2, its prospectus to float 1.2 million shares, or 20% of its post-IPO capital of SAR 60 million (25% of the current capital of SAR 48 million), on Nomu-Parallel Market.
The share sale will run from Sept. 10-14 for qualified investors.
Atlas Elevators was established in 2010. The company manufactures all kinds of elevators with high quality and original spare parts. It also offers after-sale services, including maintenance and technical support for its clients in line with the approved safety standards.
In June, the Capital Market Authority (CMA) gave the green light for the company to offer 20% of its capital on Nomu, Argaam earlier reported.
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Company Profile |
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Company |
Atlas Elevators General Trading & Contracting Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Manufacturing, installation and maintenance of elevators |
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Capital |
SAR 48 mln |
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IPO Summary |
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Issue Percentage |
20% |
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Offer Shares |
1.2 mln |
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Minimum Limit |
10 shares |
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Maximum Limit |
299,990 shares |
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Subscription Period |
Sept. 10-14, 2023 |
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Final Allocation |
Sept. 19, 2023 |
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Surplus Refund (if any) |
Sept. 21, 2023 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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Number of Shares (‘000 shares) |
Ownership (%) |
Number of Shares
(‘000 shares) |
Ownership (%) |
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Mohsen Ali Daly Al-Otaibi |
713.21 |
14.86% |
713.21 |
11.89% |
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Sheikh Malik Hammoud Faisal Al-Sabah |
529.00 |
11.02% |
529.00 |
8.82% |
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Abdullah Fahd Ali Al-Otaibi |
387.31 |
8.07% |
387.31 |
6.46% |
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Awwad Bard Jaed Al-Enezi |
340.07 |
7.08% |
340.07 |
5.67% |
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Fahd Ali Daly Al-Otaibi |
340.07 |
7.08% |
340.07 |
5.67% |
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Yacoub Youssef Abdul Latif Al-Ateeqi |
264.50 |
5.51% |
264.50 |
4.41% |
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Shareholders owning less than 5% |
2225.84 |
46.37% |
2225.84 |
37.10% |
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QFIs |
-- |
-- |
1200.00 |
20.00% |
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Total |
4800.00 |
100% |
6000.00 |
100% |
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Additional Information |
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Financial Advisor and Lead Manager |
Yaqeen Capital |
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