Subscription to Lamasat’s 6M shares opens on Nomu today

Logo of Lamasat Co.

Investors start today, Jan. 20, subscription to Lamasat Co.’s six million shares on the Nomu-Parallel Market. The price range was set between SAR 5.25 and SAR 5.75 a share.

The shares on offer represent 7.41% of the company's post-IPO capital of SAR 81 million, and 8% of the pre-IPO capital of SAR 75 million).

For More IPOs

The subscription period will run for six days until Jan. 27.

The IPO of Lamasat brings the total number of listings on Nomu to four this year, following Alshehili Co., ITMAM Consulting Co. and Basma Adeem Medical Co.

Meanwhile, Nomu witnessed 28 IPOs in 2024.

On Sept. 30, 2024, the Capital Market Authority (CMA) approved Lamasat’s request to register and 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. This is in addition to clients of capital market institutions authorized to carry out management operations, provided 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 Co. (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.

Additionally, the qualified investors include any legal person entitled to open investment accounts inside the Kingdom and with Edaa, as well as natural persons 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 capital 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 CMA-approved certificate in securities dealing and a professional certificate in the field of securities business, approved by an internationally recognized body.

The list of qualified investors also includes any other persons as defined by the CMA.

Company Profile

Lamasat was established as a limited liability company in Madinah in 2006, and converted into a closed joint-stock company in 2023. The company's current actual activity is to provide women's beauty services, sell cosmetics goods and products online, as well as offer personal care, photography, and montage services.