Riyadh-based gym operator Leejam Sports Co. will float 30 percent of its capital in an initial public offering (IPO) on Tadawul as of August 1, IPO manager Samba Capital said.
The book-building period for participating investors will last for nine days between July 17 and July 24. Share price ranges between SAR 45 to 52 per share.
The IPO targets two tranches:
Institutional tranche: It includes all the categories that are entitled to participate in bidding and book-building period. It has 100 percent (15.72 million shares) of total offering size, subject to a scale back to 90 percent (14.14 million shares).
Retail tranche: It includes the Saudi individuals and gulf investors. Up to 10% of total offering size (1.57 million shares) will be allocated for such tranche.
Saudi Arabia’s Capital Market Authority (CMA) has already approved the flotation of a 30 percent shareholding (15.72 million shares) of Leejam.
Leejam is the largest fitness center operator in Saudi Arabia that operates under the brand “Fitness Time.”
|
IPO Summary |
|
|
Company’s name |
Leejam Sports Co. |
|
Number of shares offered |
15.715 mln shares |
|
IPO Price |
SAR 45-52 per share |
|
IPO size |
SAR 707.2-817.2 mln |
|
Key conditions |
Institutional tranche: 100% (15.715 mln shares) of total offering size, subject to a scale back to 90% Retail tranche: Up to 10% of total offering size (1.571shares) |
|
IPO Period |
Seven days starting from Wednesday, August 1, 2018, until the end of Tuesday, August 7, 2018 |
|
Bidding and book building period |
Nine days starting from Monday, Juy 16, 2018, until the end of Tuesday, July 24, 2018 |
|
Deadline for submission of Subscription Application Forms (institutions) |
Sunday, July 29, 2018 |
|
Deadline for payment of the subscription fees (institutions) |
Sunday, August 5, 2018 |
|
Deadline for submission of Subscription Application Forms (Individual Investors) |
Tuesday, August 7, 2018 |
|
Final Offer Shares allotment |
Tuesday, August 14, 2018 |
|
Refund of excess subscription fees (if any) |
Tuesday, August 14, 2018 |
|
Expected trading commencement date |
After completing all relevant legal requirements and procedures |
|
Income Statement (SAR mln) |
|||
|
Item |
2016 |
2017 |
Variation |
|
Revenue |
700.9 |
732.8 |
+5% |
|
Net Profit |
203.1 |
174.2 |
(14%) |
|
Average number of shares (mln share) |
52.38 |
52.38 |
-- |
|
EPS (SAR/share) |
3.88 |
3.33 |
(14%) |
|
Revenue & Net Profit (SAR mln) |
|||
|
Item |
2015 |
2016 |
2017 |
|
Revenue |
594.8 |
700.9 |
732.8 |
|
Net Profit |
182.4 |
203.1 |
174.2 |
|
Average number of shares (mln share) |
52.38 |
52.38 |
52.38 |
|
EPS (SAR/share) |
3.48 |
3.88 |
3.33 |
|
Balance Sheet (SAR mln) |
|||
|
Item |
2015 |
2016 |
2017 |
|
Cash & cash equivalent |
57.2 |
111.6 |
73.0 |
|
Current assets |
159.3 |
201.0 |
201.0 |
|
Non-current assets |
890.6 |
1155.4 |
1303.9 |
|
Total assets |
1049.9 |
1356.4 |
1504.9 |
|
Short-term loans |
62.9 |
84.3 |
76.5 |
|
liabilities |
377.2 |
411.4 |
432.8 |
|
Long-term loans |
217.0 |
357.4 |
366.2 |
|
Non-current liablities |
229.6 |
421.2 |
443.2 |
|
Total liabilities |
606.9 |
832.6 |
876.0 |
|
Capital |
195.0 |
195.0 |
523.8 |
|
Shareholders’ equity |
443.0 |
523.8 |
628.9 |
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