Logo of Tamkeen Human Resource Co.
Tamkeen Human Resource Co. issued the prospectus for the initial public offering (IPO) of 7.95 million shares on the Main Market (TASI).
The company obtained, on Sept. 4, the approval of the Capital Market Authority (CMA) on the IPO. It also received, on June 30, conditional approval from the Saudi Exchange (Tadawul) on the offering.
The IPO will run for two days between Nov. 5-6.
The offer shares represent 30% of the company’s 26.5 million share capital amounting to SAR 265 million, at a par value of SAR 10 apiece.
The IPO proceeds will be distributed to selling shareholders on a pro-rata basis, after deducting the offering costs. The company will not recognize any of these proceeds.
Based in Saudi Arabia, Tamkeen specializes in workforce solutions in the Kingdom, providing a wide range of customized recruitment services to corporate and individual clients locally.
Established in 2018, Tamkeen has a market share of 4% as of FY 2022.
The company operates through a network of 17 Kingdom-wide branches, backed by a diversified group of employees, including more than 14,000 workers from eight different nationalities. Tamkeen offers its services to the corporate and retail segments, catering to their hourly and contractual needs.
In 2022, Tadawul-listed Dr. Sulaiman Al Habib Medical Services Group acquired a 25% stake in Tamkeen, according to Argaam’s data.
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Company Profile |
|
|
Company |
Tamkeen Human Resources Co. |
|
Market |
TASI |
|
Core Activities |
Human resources, recruitment and lease of household workers |
|
Capital |
SAR 265 mln |
|
Number of Shares |
26.50 mln |
|
Share Par Value |
SAR 10 |
|
IPO Summary |
|
|
Issue Percentage |
30% |
|
Number of Shares Offered |
7.95 mln |
|
Qualified Subscribers |
Participating institutions and individuals |
|
IPO Minimum Limit for Retail Investors |
10 shares |
|
IPO Minimum Limit for Institutional Investors |
100,000 shares |
|
Maximum Limit for Retail Investors |
250,000 shares |
|
IPO Maximum Limit for Institutional Investors |
1.32 mln |
|
Institutional Offer Period and Book Building |
Oct. 13-17, 2024 |
|
Retail Offering |
For two days, Nov. 5-6, 2024 |
|
Final Allocation |
Nov. 11, 2024 |
|
Refund (if any) |
Nov. 13, 2024 |
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Additional Information |
|
|
Financial Advisor, Book-Runner, and Underwriter |
Saudi Fransi Capital |
|
Receiving Banks |
Saudi Fransi Capital, Al Rajhi Capital, SNB Capital, Riyad Capital, Albilad Capital, Aljazira Capital, Alistithmar Capital, Derayah Financial, Alinma Investment, ANB Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital |
|
Major Shareholders |
||||
|
Shareholders |
Before IPO |
Post-IPO |
||
|
Number of Shares (‘000 shares) |
Ownership (%) |
Number of Shares (‘000 shares) |
Ownership (%) |
|
|
Tasheel Real Estate Company |
9043.13 |
34.13% |
5634.56 |
21.26% |
|
Dr. Sulaiman Al Habib Medical Services Group |
6625.00 |
25.00% |
4637.50 |
17.50% |
|
Fares Saleh Alhanaki |
2650.00 |
10.00% |
2650.00 |
10.00% |
|
Saleh Mohammed Saleh Al-Hajjaj |
2650.00 |
10.00% |
1523.75 |
5.75% |
|
Abdulrahman Ali AlQabisi |
1987.50 |
7.50% |
1325.00 |
5.00% |
|
Abdullah Sulaiman Alnagir* |
993.75 |
3.75% |
993.75 |
3.75% |
|
Saleh Hamad Ali Albahiji |
993.75 |
3.75% |
695.63 |
2.63% |
|
Abdullah Ahmed Sultan Alshahri |
795.00 |
3.00% |
556.50 |
2.10% |
|
Saif Mohammed Alsharekh |
496.88 |
1.87% |
347.81 |
1.31% |
|
Zeyad Mohammed Altunisi |
265.00 |
1.00% |
185.00 |
0.70% |
|
Public |
-- |
-- |
7950.00 |
30.00% |
|
Total |
26500.00 |
100% |
26500.00 |
100% |
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