Saud Qahtani Auction Company has issued the prospectus for its initial public offering (IPO) on the Nomu parallel market.
The Capital Market Authority (CMA) approved on Sept. 27 the listing of 39 percent, or 780,000 shares, of Saud Qahtani Auction on Nomu.
The IPO will be confined to qualified investors, according to CMA regulations.
The offering will start on Feb. 14 and will end on March 4, with a maximum subscription limit of 99,999 shares.
|
Major Shareholders After IPO |
||||
|
Shareholder |
Number of shares before IPO (‘000) |
Stake % |
Number of shares after IPO (‘000) |
Stake % |
|
Saud Al Qahtani |
1,600 |
80 % |
976 |
48.8 % |
|
Faleh Saud Al Qahtani |
200 |
10 % |
122 |
6.1 % |
|
Saeed Saud Al Qahtani |
200 |
10 % |
122 |
6.1 % |
|
Public |
-- |
-- |
780 |
39 % |
|
Total |
2,000 |
100 % |
2,000 |
100 % |
|
Company Profile |
|
|
Company |
Saud Al Qahtani Auction Co. |
|
Stock market |
Nomu- Parallel Market |
|
Company’s core business |
Wholesale & retail trade, import & export of machinery, heavy and light equipment & spare parts, and establishing and organizing of public auctions |
|
Company’s status |
Active |
|
Company’s capital |
SAR 20 mln |
|
IPO Details |
|
|
IPO Percentage |
39% |
|
Number of IPO shares |
780,000 shares |
|
IPO price per share |
Not determined yet |
|
Eligible investors |
Qualifies investors |
|
IPO minimum |
10 shares |
|
IPO maximum |
99,999 shares |
|
IPO period |
From Feb. 14, 2019 until March 4, 2019 |
|
Allotment |
March 12, 2019 |
|
Surplus repayment |
March 18, 2019 |
|
Additional Details |
|
|
Lead manager & Financial advisor |
Musharaka Capital |
|
Receiving bank |
ANB |
|
Banks the company deals with |
NCB, Albilad, Al Rajhi, Alinma |
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