Qualified investors start subscription to Tharwah HR 705,700 shares today on Nomu

Logo of Tharwah HR Co.

Qualified investors start today, Aug. 4, subscription to 705,740 shares of Tharwah HR Co. on the Nomu-Parallel Market, at SAR 62 apiece.

The offered shares represent 15% of post-IPO capital, amounting to SAR 23.53 million (17.64% of pre-IPO capital), divided into 4.71 million shares at SAR 5 each.

For More IPOs

Subscriptions by qualified investors will run for eight days until Aug. 11.

This is the 15th IPO on Nomu this year, as the offering of Al-Hokail Academy Specialized Digital Polyclinics Co. was cancelled and Kinan International for Real Estate Development Co. was delayed.

The Capital Market Authority (CMA) approved, on June 3, Tharwah HR’s application to float its shares on Nomu.

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, any other financial market recognized by the CMA or the Securities Depository Center (Edaa).

They also include companies owned by the government, 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.

Investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu and who meet the requirements stipulated in the guidelines for investment of non-resident foreigners in Nomu.

They also include qualified foreign financial institutions and 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 fulfil 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.

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.

Company Profile:

Tharwah HR was established as a one-person Saudi limited liability company in Riyadh in 2017, then transformed into a closed joint stock company.

The list of qualified investors includes any other persons to be defined by the CMA.

The company's activities, as stated in its commercial register, include rehabilitating and restructuring the administrative, financial and operational processes of establishments, providing higher management consulting services, higher training institutes, institutes for teaching languages and conversational skills, training institutes, training centers, electronic training, mediation in the employment of Saudis, activities of employment agencies for Saudis, organizing and managing exhibitions and conferences, systems analysis, interface design and user experience, application development, artificial intelligence techniques.

The company's actual current activity as of the date of this prospectus is represented in administrative consultancy as well as training and development sectors.