Al Mohafaza Company for Education issued the prospectus to offer 1.6 million shares, or 20% of its post-IPO capital (23.88% of pre-IPO capital) on the Nomu-Parallel Market.
Al Mohafaza was established as a branch of a sole proprietorship in 2004, and was transformed into a closed Saudi joint stock company in 2022.
This will be carried out by increasing the company’s capital from SAR 67 million (6.7 million ordinary shares) to SAR 80 million (8 million ordinary shares), by issuing 1.3 million new ordinary shares, or 19.4% of the company’s pre-IPO capital (or 16.25% of post-IPO capital). In addition, the company will offer 300,000 ordinary shares of the currently issued shares by all existing shareholders, which represents 4.48% of pre-IPO capital (3.75% of post-IPO capital)
The share sale will run from Feb. 28 to March 7, 2024, for qualified investors.
The share sale will be limited to qualified investors as stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA).
Almuhafaza for Education Co. was established as a branch of a sole proprietorship in 2004, and was transformed into a closed Saudi joint stock company in 2022.
The company's activity is to own and rent lands, establish, manage and operate private schools for all levels of public education (pre-university), in addition to managing and operating educational, sports and recreational facilities owned by it or rent them to others.
The Capital Market Authority (CMA) approved, in December 2023, the application received from the company to register its shares for direct listing on Nomu.
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Company Profile |
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Company |
Al Mohafaza for Education Co. |
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Market |
Nomu Parallel Market |
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Core Activities |
Education |
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Number of Shares |
6.7 mln |
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Capital before IPO |
SAR 67 mln |
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Number of shares after IPO |
8.0 mln |
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Capital after IPO |
SAR 80 mln |
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IPO Summary |
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Issue Percentage |
20% |
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Offered shares |
1.6 mln |
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Minimum Limit |
10 shares |
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Maximum Limit |
399,990 shares |
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Offer period |
For seven working days from Feb. 28 to March 7, 2024. |
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Final Allocation |
March 12, 2024 |
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Refund (if any) |
March 14, 2024 |
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Company Shareholders |
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Shareholders |
Before IPO |
Post-IPO |
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Number of shares (‘000) |
Ownership (%) |
Number of shares (‘000) |
Ownership (%) |
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Abdullah Saleh Ibrahim Al-Muhaymid |
2557.2 |
38.17% |
2442.7 |
30.53% |
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Haila Mohammed Abdullah Al-Muhaymid |
586.3 |
8.75% |
560.0 |
7.00% |
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Mohammed Saleh Ibrahim Al-Muhaymid |
547.2 |
8.17% |
522.7 |
6.53% |
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Ahmed Saleh Ibrahim Al-Muhaymid |
547.2 |
8.17% |
522.7 |
6.53% |
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Salah Saleh Ibrahim Al-Muhaymid |
547.2 |
8.17% |
522.7 |
6.53% |
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Public |
1914.9 |
28.57% |
1829.2 |
22.88% |
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Qualified investors |
-- |
-- |
1600.0 |
20.0% |
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Total |
6700.0 |
100% |
8000.0 |
100% |
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Additional Information |
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Financial Advisor and Lead Manager |
Yaqeen Capital |
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