Logo of Riyal Investment & Development Co. (Riyal Motors)
Riyal Investment & Development Co. (Riyal Motors) published its prospectus to float 720,000 shares, representing 9% of its capital, on the Nomu-Parallel Market.
The offer will run through Oct. 1-5, 2023.
The IPO will be limited, as per the rules on the offer of securities and continuing obligations, to qualified investors.
The company was established as a sole proprietorship in 1993 and was transformed into a Saudi closed joint stock company in 2002, headquartered in Dammam.
According to its commercial register, the firm carries out wholesale and retail of new private cars, including ambulances, minibuses, and four-wheel drive vehicles.
In June, the Capital Market Authority (CMA) gave the green light for Riyal Investment to register and list 720,000 shares, or 9% of its capital, on Nomu.
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Company Profile |
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Company |
Riyal Investment & Development Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Car rental services |
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Capital |
SAR 80 mln |
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IPO Summary |
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Issue Percentage |
9% |
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Offered Shares |
720,000 |
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Minimum Limit |
10 shares |
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Maximum Limit |
390,000 shares |
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Offer Period |
Oct. 1-5, 2023 |
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Final Allocation |
Oct. 11, 2023 |
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Refund (If any) |
Oct. 12, 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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|
Tariq Abdul Hadi Abdullah Al-Qahtani |
1042.05 |
13.03% |
945.16 |
11.81% |
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Saleh Abdul Hadi Abdullah Al-Qahtani |
1042.05 |
13.03% |
945.16 |
11.81% |
|
Abdullah Abdul Hadi Abdullah Al-Qahtani |
1042.05 |
13.03% |
945.16 |
11.81% |
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Haifa Saleh Hamad Al-Sugair |
521.02 |
6.51% |
472.58 |
5.91% |
|
Shams Abdul Hadi Abdullah Al-Qahtani |
521.02 |
6.51% |
472.58 |
5.91% |
|
Mai Abdul Hadi Abdullah Al-Qahtani |
521.02 |
6.51% |
472.58 |
5.91% |
|
Doha Abdul Hadi Abdullah Al-Qahtani |
521.02 |
6.51% |
472.58 |
5.91% |
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Other investors (owning less than 5% of capital) |
2789.78 |
34.87% |
2554.44 |
31.93% |
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Qualified Investors |
-- |
-- |
720.00 |
9.00% |
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Total |
8000.0 |
100% |
8000.00 |
100% |
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Additional Information |
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Financial Advisor |
Aldukheil Financial Group |
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