Logo of Neft Alsharq Chemical Industries Co.
Qualified investors start today, May 26, subscribing to 5 million shares of Neft Alsharq Co. for Chemical Industries, which is scheduled to list on the Nomu-Parallel Market at a price range of SAR 3-3.6 per share.
Shares offered for subscription represent 20% of the post-IPO capital of SAR 25 million, divided into 25 million shares of SAR 1 each.
The subscription period will run for eight days, until June 2. This is the 12th IPO on Nomu during 2024.
This is the 12th IPO on Nomu during 2024.
In March 2024, the company obtained the Capital Market Authority’s (CMA) approval for the offering.
The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own accounts, as well as clients of capital market institutions authorized to carry out management operations.
This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.
The categories include the Saudi government, any government or international entity approved by the CMA, the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).
They also include companies owned by the government, either directly or through a portfolio managed by a person authorized to practice management operations. This is in addition to investment funds, companies, and funds established in the GCC countries.
In addition, the categories include any legal person entitled to open investment accounts inside the Kingdom and with Edaa.
Natural persons are allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:
They should have executed transactions in the securities markets worth a minimum of SAR 40 million and at least 10 deals in each quarter during the past 12 months.
Natural persons should also have a net asset value of at least SAR 5 million and be working or have worked for at least three years in the financial sector.
Moreover, they should hold a general certificate in securities dealing, approved by the CMA, and a professional certificate in the field of securities business, approved by an internationally recognized body.
The list of qualified investors includes any other persons to be defined by the CMA.
Company Profile
Neft Alsharq Chemical Industries is a Saudi-closed joint stock company that was established in 1995 as a sole proprietorship, headquartered in Riyadh.
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 Company 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 After 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-IPO capital (25% pre-IPO capital) |
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Offered Shares |
5 mln |
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Price Range |
SAR 3-3.6 per share |
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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 |
From May 26 to June 2, 2024 |
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Final Allocation |
June 6, 2024 |
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Refund (if any) |
June 10, 2024 |
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Company Shareholders |
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Shareholders |
Before 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 (QFIs) |
-- |
-- |
5.00 |
20.00% |
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Total |
20.00 |
100% |
25.00 |
100% |
*Ibrahim Ali Ibrahim Al-Mohsen had an indirect ownership of 7.10% before the IPO, which will increase to 5.68% after the IPO, as a result of his 50% ownership of Sabeel Al-Reyadah Co. Ltd., which owns 14.19% of the company's pre-IPO shares. This percentage will increase to 11.35% after the IPO.
** There is indirect ownership by other shareholders who own less than 5%.
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Additional Information |
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Financial Advisor and Lead Manager |
Yaqeen Capital |
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Receiving Banks |
Al Rajhi Capital, Riyad Capital, ANB Capital, Derayah Financial, Saudi Fransi Capital, Albilad Capital, AlJazira Capital, SNB Capital, Alinma Investment, and Alistithmar Capital |
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