Logo of Almajed for Oud Co.
Almajed for Oud Co. issued its prospectus for the offering of 7.5 million shares, representing 30% of its capital, on the Main Market (TASI).
The subscription period for participating entities and book-building process will last for five days from Aug. 25 to Aug. 29.
The company set the offering period for retail investors to one day on Sept. 15.
The Capital Market Authority (CMA) approved, in June, the company's request to float its shares in an initial public offering (IPO) on TASI.
The IPO is limited to two categories of investors:
Category 1: Entities eligible to participate in the book-building process, based on the instructions of the book-building and IPO allocations as issued by the CMA.
A total of 7.5 million shares, representing 100% of the offering, will be earmarked to participating entities that actively engage in the book-building process.
If there is sufficient demand from retail investors, the financial advisor, in coordination with the company, may reduce the number of shares allocated to participating entities to a minimum of six million shares, representing 80% of the total offering.
As many as 2.25 million shares, or 30% of the total offering, will be allocated to public funds. If there is sufficient demand from retail investors, this allocation will be reduced to 1.8 million shares, representing 24% of the total.
Category 2: Retail subscribers, including Saudi natural persons, non-Saudi residents, and GCC citizens who have a bank account with one of the receiving entities and are eligible to open an investment account with a financial institution.
Up to 1.5 million shares, representing 20% of the total offering, will be allocated to retail investors.
Founded in 1982 and headquartered in Riyadh, Almajed Oud currently has a capital of approximately SAR 250 million. The company is primarily engaged in the production and retail of perfumes, oud, incense, aromatic oils, plant-based products, accessories, and gifts.
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Company Profile |
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Company |
Almajed for Oud Co. |
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Market |
Main Market (TASI) |
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Core Activities |
Production and retail of perfumes, oud, incense and aromatic oils |
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Capital |
SAR 250 mln |
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Number of Shares |
25 mln |
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Par Value |
SAR 10/share |
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IPO Summary |
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Issue Percentage |
30% |
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Number of Offered Shares |
7.5 mln |
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Qualified Subscribers |
Qualified entities – Retail investors |
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IPO Min. Limit for Retail Investors |
10 shares |
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IPO Min. Limit for Institutional Investors |
50,000 shares |
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IPO Max. Limit for Retail Investors |
250,000 shares |
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IPO Max Limit for Institutional Investors |
1.5 mln shares |
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Institutional Investors’ Subscription Period & Book-Building |
Aug. 25-29, 2024 |
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Subscription Period for Retail Investors |
Sept. 15, 2024 |
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Final Allocation |
Sept. 19, 2024 |
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Surplus Refund (If any) |
Sept. 24, 2024 |
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Additional Information |
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Financial Advisor, Book-Runner & Underwriter |
BSF Capital |
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Receiving Banks |
Banque Saudi Fransi (BSF) - Al Rajhi Bank |
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Major 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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Khaled Ali Othman Al Majed |
5.625 |
22.5 % |
3.938 |
15.75 % |
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Saad Ali Othman Al Majed |
5.625 |
22.5 % |
3.938 |
15.75 % |
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Suliman Ali Othman Al Majed |
5.625 |
22.5 % |
3.938 |
15.75 % |
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Majed Ali Othman Al Majed |
5.625 |
22.5 % |
3.938 |
15.75 % |
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Badr Ali Othman Al Majed |
1.250 |
5.0 % |
0.875 |
3.5 % |
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Mohammed Ali Othman Al Majed |
1.250 |
5.0 % |
0.875 |
3.5 % |
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Public |
-- |
-- |
7.500 |
30 % |
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Total |
25.00 |
100 % |
25.00 |
100 % |
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