Logo of Neft Alsharq Co. Chemical Industries
Neft Alsharq Co. Chemical Industries published the prospectus for offering five million shares on the Nomu-Parallel Market, according to a statement to Tadawul.
In March, the Capital Market Authority (CMA) approved the company's application to float its shares on Nomu.
The offered shares represent 20% of its post-increase capital of SAR 25 million (divided into 25 million shares) at SAR 1 per share.
The share sale will run for eight working days from May 26 to June 2.
The share sale will be limited to qualified investors stipulated in the glossary of defined terms used in the CMA’s regulations and rules.
The company's actual activity is the production, sale and export of gasoline and diesel engine oils, hydraulic oils, transmission oils of all types, base oils, industrial greases, engine cooling fluids, and other products.
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Company Profile |
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Company |
Neft Alsharq Co. for Chemical Industries |
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Market |
Nomu-Parallel Market |
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Core Activities |
Production of engines oils, greases and cooling fluids |
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Capital Pre-IPO |
SAR 20 mln |
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Capital Post-IPO |
SAR 25 mln |
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Share Par Value |
SAR 1/share |
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IPO Summary |
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Issue Percentage |
20% of post-increase capital (25% pre-increase capital) |
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Offered Shares |
5 mln |
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IPO Minimum Limit |
100 shares |
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IPO Maximum Limit |
1.25 mln shares |
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Offer Period |
May 26-June 2, 2024 |
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Final Allocation |
June 6, 2024 |
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Surplus Refund (If any) |
June 10, 2024 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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Number of Shares (mln shares) |
Ownership (%) |
Number of Shares (mln shares) |
Ownership (%) |
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Sabeel Al-Reyadah Co. Ltd. |
2.84 |
14.19% |
2.84 |
11.35% |
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Asset Management Co. Ltd. |
2.23 |
11.14% |
2.23 |
8.91% |
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Ibrahim Ali Ibrahim Al-Mohsen* |
2.00 |
10.00% |
2.00 |
8.00% |
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Abdulaziz Abdullah Mohammed Al-Rashid |
1.98 |
9.91% |
1.98 |
7.92% |
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Asaad Rumaih Othman Al-Rumaih |
1.50 |
7.50% |
1.50 |
6.00% |
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Other shareholders owning less than 5% (43 shareholders)** |
9.45 |
47.27% |
9.45 |
37.81% |
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The public (Qualified investors) |
-- |
-- |
5.00 |
20.00% |
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Total |
20.00 |
100% |
5.0 |
100% |
**There is indirect ownership by other shareholders who own less than 5%.
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Additional Information |
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Financial Advisor & Lead Manager |
Yaqeen Capital |
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Receiving Agents |
Al Rajhi Capital - Riyad Capital - ANB Capital - Derayah Financial - Saudi Fransi Capital - Albilad Capital - AlJazira Capital - SNB Capital - Alinma Investment - Alistithmar Capital |
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