Logo of Al Taiseer Group Talco Industrial Co. (TALCO)
Retail investors will start today, May 28, subscription to 1.2 million shares of Al Taiseer Group Talco Industrial Co. (TALCO) at SAR 43 each, as set by the book-building process.
The retail offering represents 10% of the total offer.
The subscription process for the retail tranche will run for two days until May 29.
The Capital Market Authority (CMA) approved, in December 2023, the company's request to float 12 million shares, or 30% of the capital, amounting to SAR 400 million divided into 40 million shares, in an initial public offering (IPO). The nominal value per share stands at SAR 10.
The company’s institutional offering, which ended last week, was 68.5x covered.
TALCO’s IPO is the sixth this year for the Main Market, after Middle East Pharmaceutical Industries Co. (Avalon Pharma) on Jan. 30, Modern Mills for Food Products Co. on March 5, Miahona and Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group) on May 21 and Saudi Manpower Solutions Co. (SMASCO) on May 26.
Tadawul witnessed eight IPOs in 2023, including MBC Holding Group Ltd., Morabaha Marina and Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co., First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co.
Company Profile
TALCO was established in 1976 and is located in Riyadh. It converted into a closed shareholding company in 2009.
The company's current activities are represented in the following segments: aluminum, powder-coated products, accessories products, their manufacturing and marketing.
Below is an overview of the company's core activities:
|
Segment |
|
|
Segment |
Products |
|
Aluminium |
Aluminium extrusions mill finish, anodised aluminium, powder coated aluminium, anodic treatment and powder coated aluminium (seaside), PVDF coating, wood finished aluminium (real wood), wood finished aluminium (effecta), wood finished aluminium (film sublimation) and thermal break products |
|
Powder coated products |
Polyester powder, epoxy powder, super durable powder, metallic powder |
|
Accessories |
Weatherstrip, polypropylene yarn, strip brush/rubber, rubber gaskets from PVC and TPV, plastic injection moulded components, plastic bags and sheets and printing wrapping films products |
The company holds significant production shares in Saudi Arabia and the GCC countries across most operating segments. Its share of aluminium forming production reaches 23%, while its share in the powder coating sector is 21%, and it holds a 60% share in the leakage prevention products segment.
The company currently operates six factories/production facilities—four in Riyadh and two in Jeddah—with an annual production capacity of 60,000 metric tons by the end of June 2023 for the aluminium segment—the company’s largest segment. Additionally, it has main warehouses for storing and distributing products in Riyadh, Jeddah, Dammam, and Dubai.
The company's sales within the Kingdom had the largest contribution to total sales, representing 77.9% in 2023. TALCO’s sales are mainly concentrated in Riyadh.
The company also exports its products to more than 26 countries, including countries in the GCC, the MENA region, East Asia, Australia, the US, and Europe, with sales outside the Kingdom accounting for 22.1% of its total revenues during the year 2023.
Company's Geographical Locations:
Headquartered in Riyadh, the company currently operates through nine locations, as below:
|
Details of TALCO's Geographical Locations |
|||
|
Country |
City |
Geographic Location |
Number of branches |
|
Saudi Arabia |
Riyadh |
Factories |
5 |
|
Saudi Arabia |
Jeddah |
Factories |
2 |
|
Saudi Arabia |
Dammam |
Warehouse |
1 |
|
UAE |
Dubai |
Warehouse |
1 |
|
Company Profile |
|
|
Company |
Altaiseer Group Talco Industrial Co. (TALCO) |
|
Market |
TASI |
|
Core Activities |
Aluminum |
|
Capital |
SAR 400 mln |
|
Number of Shares |
40 mln |
|
Share Par Value |
SAR 10 |
|
IPO Summary |
|
|
Issue Percentage |
30% |
|
Offer Price |
SAR 43 |
|
Number of shares offered |
1.2 mln shares |
|
Qualified Subscribers |
Retail investors |
|
IPO Minimum Limit for Retail Investors |
10 shares |
|
IPO Maximum Limit for Retail Investors |
250,000 shares |
|
Retail Offering |
Two days from May 28-29, 2024. |
|
Final Allotment |
June 2, 2024 |
|
Surplus Refund |
June 2, 2024 |
|
Additional Information |
|
|
Financial Advisor, Book-Runner, and Underwriter |
Alinma Investment |
|
Receiving Banks |
Al Rajhi Bank, Alinma Bank, Riyad Bank |
|
Major Shareholders |
||||
|
Shareholders |
Before IPO |
Post-IPO |
||
|
Number of Shares (mln shares) |
Ownership (%) |
Number of Shares (mln shares) |
Ownership (%) |
|
|
Mansour Kamel Ibrahim Al-Fattouh Al-Blwi |
7.68 |
19.21% |
5.38 |
13.45% |
|
Nasser Kamel Ibrahim Al- Fattouh Al-Blwi |
6.73 |
16.83% |
4.71 |
11.78% |
|
Elham Mahmoud Obaid Ibrahim |
4.49 |
11.24% |
3.15 |
7.87% |
|
Dalal Kamel Ibrahim Al- Fattouh Al-Blwi |
3.34 |
8.34% |
2.34 |
5.84% |
|
Manal Kamel Ibrahim Al- Fattouh Al-Blwi |
3.34 |
8.34% |
2.34 |
5.84% |
|
Nawaf Khaled Kamel Al- Fattouh Al-Blwi |
2.94 |
7.36% |
2.06 |
5.15% |
|
Abdulaziz Khaled Kamel Al- Fattouh Al-Blwi |
2.94 |
7.36% |
2.06 |
5.15% |
|
Amal Kamel Ibrahim Al- Fattouh Al-Blwi |
2.86 |
7.15% |
2.00 |
5.01% |
|
Shatha Muwaffaq Kamel Al- Fattouh Al-Blwi |
2.86 |
7.15% |
2.00 |
5.01% |
|
Khadraa Rashid Harbi Al Fattouh |
0.95 |
2.38% |
0.67 |
1.67% |
|
Basmah Hussain Salem Al Fattouh Al-Blwi |
0.84 |
2.10% |
0.59 |
1.47% |
|
Ibrahim Abdulaziz Kamel Al Fattouh Al-Blwi |
0.25 |
0.63% |
0.18 |
0.44% |
|
Muhammad Abdulaziz Kamel Al Fattouh Al-Blwi |
0.25 |
0.63% |
0.18 |
0.44% |
|
Faris Abdulaziz Kamel Al Fattouh Al-Blwi |
0.25 |
0.63% |
0.18 |
0.44% |
|
Fatima Ali Hassan Al Fattouh |
0.13 |
0.32% |
0.09 |
0.22% |
|
Reem Abdulaziz Kamel Al Fattouh Al-Blwi |
0.13 |
0.32% |
0.09 |
0.22% |
|
Public |
-- |
-- |
12.0 |
30% |
|
Total |
40.0 |
100% |
40.0 |
100% |
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