Logo of Al-Hasoob Trading Co.
Qualified investors start, today, Oct. 24, subscription to 280,000 shares of Al-Hasoob Trading Co., at SAR 95 each.
The subscription period will last three days until Tuesday, Oct. 26.
In September, the Capital Market Authority (CMA) approved the company’s request to offer 20% of its capital on the Nomu-Parallel Market.
Al-Hasoob Trading initial public offering (IPO) is the second on Nomu year-to-date (YTD), after the IPO of Shatirah House Restaurant Co. (Burgerizzr) in September.
The parallel market witnessed the direct listing of seven companies in 2021, namely, Watani Iron Steel Co. in February, Fesh Fash Snack Food Production Co. in May, Mohammed Hasan AlNaqool Sons Co. in June, National Fertilizer Co. in July, Canadian Medical Center and Banan Real Estate Co. in August, and National Gas Distribution Co. in September.
Types of qualified investors:
- Capital market institutions authorized to act on their own account.
- Clients of capital market institutions, who are authorized to carry out management operations, provided that such authorized persons are appointed under terms that enable them to take decisions related to accepting the participation in the share offering and investment in the parallel market, on behalf of the client, without the need to obtain prior consent from the client.
- The Saudi government, any governmental body, any international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).
- Companies that are owned by the government, directly or through a private portfolio manager.
- Companies and funds established in the GCC countries.
- Investment funds.
- Non-resident foreigners who are allowed to invest in the parallel market and who fulfill the requirements as stipulated in the guide of non-resident foreigners’ investments in the parallel market.
- Qualified foreign financial institutions.
- Any legal person who has the right to open investment accounts inside the Kingdom, and accounts with Edaa.
- Natural persons who can open investment accounts inside the Kingdom and accounts with Edaa, and who fulfill the following criteria:
1) Have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months.
2) Have net assets value of no less than SAR 5 million.
3) Are working or have worked for at least three years in the financial sector.
4) Hold a general certificate in securities dealing, approved by the CMA.
5) Hold a professional certificate in the field of securities business, approved by an internationally recognized body.
- Any other persons to be defined by the CMA.
Company profile:
Established in 1999 in Riyadh as a sole proprietorship, the company was transformed in February 2020 into a closed joint stock company and increased its capital to SAR 14 million.
Al-Hasoob provides integrated solutions and services in the field of wholesale, retail and computer maintenance in Saudi Arabia, software wholesale, including import, marketing services for third parties, IT, transportation, storage and refrigeration.
It offers its services through its headquarters and has local presence in the western, eastern, southern and central regions, through its regional showrooms in Jeddah, Khobar, Riyadh, Tabuk, Khamis Mushit, Jizan and Qassim.
The company's business is concentrated in the Saudi market and does not have any subsidiaries or substantial assets outside Saudi Arabia.
|
Company Profile |
|
|
Company |
Al-Hasoob Trading Co. |
|
Market |
Nomu Parallel Market |
|
Core Activities |
Wholesale, retail and computer maintenance |
|
Capital |
SAR 14 mln |
|
IPO Summary |
|
|
Number of Shared Offered |
280,000 shares |
|
Percentage of Capital (%) |
20% |
|
IPO Price |
SAR 95 |
|
IPO Size |
SAR 26.6 mln |
|
Issue Proceeds |
The seller will receive the sale proceeds after deducting the issue costs, while the company isn’t entitled to receive any proceeds. |
|
Qualified Subscribers |
Qualified investors |
|
Minimum Limit |
10 shares |
|
Maximum Limit |
69,990 shares |
|
Subscription Period |
Subscription will run from Oct. 24-26. |
|
Final Allotment |
Oct. 28 |
|
Surplus Refunds |
Oct. 31 |
|
Additional Information |
|
|
Financial Advisor |
Darfin Capital |
|
Lead Manager |
Al Nefaie Investment Group |
|
Company Shareholders |
||||
|
Shareholders |
Before IPO |
After IPO |
||
|
Number of shares (‘000) |
Ownership (%) |
Number of shares (‘000) |
Ownership (%) |
|
|
Hamad Bin Ibrahim Al Luhaidan |
700 |
50 % |
560 |
40 % |
|
Abdul Karim bin Ibrahim Al Luhaidan |
700 |
50 % |
560 |
40 % |
|
Qualified investors |
-- |
-- |
280 |
20 % |
|
Total |
1,400 |
100 % |
1,400 |
100 % |
Comments
{{DisplayName}}
{{ElapsedTime}}