Logo of MARAFIQ
Power and Utility Company for Jubail and Yanbu (MARAFIQ) will begin trading on the Saudi Exchange (Tadawul) today, Nov. 24, under the utilities sector, with the symbol 2083 and ISIN Code: SA15L0N10HH3.
The stock will have +/-30% daily price fluctuation limits and +/-10% static price fluctuation limits. These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.
This will be the 13th listing on the main market in 2022, following Elm Co., East Pipes Integrated Company for Industry, Scientific & Medical Equipment House Co., Al-Dawaa Medical Services Co., Nahdi Medical Company, Al Masane Al Kobra Mining Co. (AMAK), Saudi Home Loans Co., Retal Urban Development Co., Alamar Foods, Naqi Water, Arabian Drilling, and Perfect Presentation.
Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co. (March 1), Theeb Rent a Car Co. (March 29), Tanmiah Food Co. (Aug. 4), solutions (Sept. 30), International Company for Power and Water Projects (ACWA Power) (Oct. 11), Arabian Contracting Services Co. (Al Arabia) (Nov. 15), Nayifat Finance Co. (Nov. 22), Saudi Tadawul Group (Dec. 8) and Almunajem Foods Co. (Dec. 20).
The company's listing will bring the total number of Tadawul-listed companies to 202, excluding 17 REITs.
The company offered 73.09 million shares, or 29.24% of its capital, on the main market, at SAR 46 per share, of which 70% was allocated to the participating parties and 30% to individual investors, according to data available with Argaam.
The retail coverage reached 632%, while the tranche of participating parties was 59x subscribed.
Each retail investor received a minimum of 10 shares, while the remaining shares will be allocated on a pro rata, based on the demand size of every subscriber to total shares. Allotment ratio amounted to 4.91%.
Company Profile
MARAFIQ was established in October 2000, with its headquarters located in Jubail. Its capital stands at SAR 2.5 billion.
The company mainly carries out water supply, sanitation, waste management and treatment, as well as electricity, gas, steam and air conditioning supplies, in addition to undertaking manufacturing, and construction activities.
The company's business is divided into three segments through the services it provides, which are energy, water, and gas.
MARAFIQ mainly operates in Jubail Industrial City and Yanbu Industrial City, but has recently expanded to Jazan City for Primary and Downstream Industries and Ras Al Khair Industrial City.
It is the only provider of energy and water services in Yanbu, the only provider of water services in Jubail, a provider of water services in Ras Al Khair, and a provider of energy and water services in Jazan.
MARAFIQ and its subsidiaries were responsible for 3.2% of the Kingdom’s total electricity generation capacity (licensed megawatts) in 2020, and 7.2% of the Kingdom’s water desalination capacity.
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Company Profile |
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Company |
Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) |
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Market |
Saudi Exchange (Tadawul) |
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Core Activities |
The company's main activity is to provide water supplies and sewage activities, manage and process waste, provide electricity, gas, steam and air-conditioning supplies, manufacturing activities, and construction activities. |
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Capital |
SAR 2.5 bln |
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Number of Shares |
250 mln |
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Company Shareholders |
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Shareholders |
Before IPO |
Post-IPO |
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Number of Shares (mln) |
Ownership (%) |
Number of Shares (mln) |
Ownership (%) |
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Royal Commission for Jubail and Yanbu |
62.02 |
24.81% |
43.75 |
17.5% |
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Public Investment Fund |
62.02 |
24.81% |
43.75 |
17.5% |
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Saudi Basic Industries Corp. (SABIC) |
62.02 |
24.81% |
43.75 |
17.5% |
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Saudi Aramco Power Co. (SAPCO) |
62.02 |
24.81% |
43.75 |
17.5% |
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Zamil Group Holding Co. |
0.05 |
0.2% |
0.05 |
0.2% |
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Al Yusr Industrial Contracting Co. |
0.20 |
0.08% |
0.20 |
0.08% |
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Khonaini International Co. |
1.10 |
0.44% |
1.10 |
0.44% |
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National Titanium Dioxide Ltd.Co. (Cristal) |
0.10 |
0.04% |
0.10 |
0.04% |
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Rakaeez Al Jubail Holding Co. |
0.01 |
0.002% |
0.01 |
0.002% |
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Public |
-- |
-- |
73.09 |
29.24% |
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Total |
250.00 |
100% |
250.00 |
100% |
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