AI Summary
Logo of Rawabi Marketing International Co. (RMI), which is slated for IPO on the Nomu-Parallel Market
Qualified investors begin today, Aug. 27, subscription to one million shares of Rawabi Marketing International Co. (RMI) on the Nomu-Parallel Market, at a price of SAR 35 per share.
The shares on offer represent 6.45% of the company’s post-IPO capital and 6.90% of pre-IPO capital.
The company's current capital is SAR 145 million, which will increase to SAR 155 million after the offering, divided into 15.5 million shares with a nominal value of SAR 10 per share.
The subscription period for qualified investors will continue for six business days, ending on Sept. 3.
Today’s listing of Rawabi Marketing will bring this year’s IPOs to 21 since the beginning of 2025.
In March, the Capital Market Authority (CMA) approved the company’s application to offer its shares on Nomu.
Nomu witnessed 28 IPOs in 2024.
RMI was established as a limited liability company in 1998. The company’s current core activities include the trade and marketing of chemical products and materials, in addition to marketing the products of its subsidiaries.
The company imports chemicals from domestic and international suppliers for use in water treatment and poultry farms. In collaboration with regional and foreign suppliers, the it also imports and exports certain products both inside and outside of Saudi Arabia.
RMI has three subsidiaries with varying ownership percentages, includieng National Company for Sulfur Products (NCSP), 85%-owned by RMI, with a capital of SAR 200 million. The subsidiary operates in the production of basic organic chemicals, including ethylene (excluding fertilizers and nitrogenous compounds), as shown in the table below:
|
RMI’s Subsidiaries |
|||
|
Company |
Capital |
Stake |
Activity |
|
National Company for Sulfur Products (NCSP) |
SAR 200 mln |
85% (the remaining is owned by board member Khalil Sulaiman) |
Production of basic organic chemicals, including ethylene, excluding fertilizers and nitrogenous compounds. |
|
German Metal surface Treatment Chemicals |
SAR 15 mln |
Indirect ownership through NCSP at 85%, and 15% owned by board member Khalil Sulaiman. |
Production of chemical elements, medical and non-medical disinfectants, detergents, and others. |
|
Rawabi Company for Smart Services and Devices (RSSD) |
SAR 100,000 |
100 % |
Manufacturing of tablets, installation and extension of computer and communication networks, wholesale of computers and their accessories, design and programming of custom software, and provision of telecommunications and information network management and monitoring services. |
Various chemicals account for the largest share of the company’s total revenue, exceeding SAR 391 million and representing more than 89.3%, followed by petroleum processing chemical products with over 5%, amounting to approximately SAR 23 million, as of Sept. 30, 2024.
|
Revenues by Product (SAR mln) |
||||||
|---|---|---|---|---|---|---|
|
Product |
2022 |
% of Total |
2023 |
% of Total |
9M 2024 |
% of Total |
|
Miscellaneous Chemicals |
526.0 |
86.1 % |
472.4 |
86.8 % |
391.4 |
89.3 % |
|
Oil Processing Chemicals |
32.6 |
5.3 % |
33.3 |
6.1 % |
22.6 |
5.2 % |
|
Detergents |
17.8 |
2.9 % |
11.5 |
2.1 % |
8.1 |
1.8 % |
|
Water Treatment Chemicals |
10.2 |
1.7 % |
10.8 |
2.0 % |
2.7 |
0.6 % |
|
Paints |
8.8 |
1.4 % |
10.2 |
1.9 % |
7.6 |
1.7 % |
|
Founding and Casting Chemicals |
4.7 |
0.8 % |
2.9 |
0.5 % |
2.7 |
0.6 % |
|
Other* |
10.9 |
1.8 % |
3.2 |
0.6 % |
3.3 |
0.8 % |
|
Total |
610.9 |
100 % |
544.5 |
100 % |
438.5 |
100 % |
* Technical support products used in conducting laboratory and field tests by a specialized team, in addition to transportation services for chemicals.
The Eastern Province accounted for 42% of the company's revenues, surpassing SAR 184 million at the end of the first nine months of 2024. Thus, the company's total revenues from within the Kingdom is approximately 75%.
The remaining 25% of revenue comes from outside the Kingdom, across several countries including: Singapore, Bangladesh, UAE, Eritrea, Jordan, Nigeria, Kuwait, India, Egypt, Pakistan, Iraq, South Africa, Syria, South Korea, Bahrain, Tanzania, Ghana, Turkey, Oman, Australia, Algeria, Lebanon, New Zealand, China, Switzerland, Libya, Sri Lanka, Morocco, Brazil, Hong Kong, Qatar, Yemen, Angola, and Estonia.
|
Revenue by Region (SAR mln) |
||||||
|---|---|---|---|---|---|---|
|
Region |
2022 |
% of Total |
2023 |
% of Total |
Sept. 2024 |
% of Total |
|
Central |
147.2 |
24.1 % |
133.8 |
24.6 % |
88.5 |
20.2% |
|
Eastern |
212.1 |
34.7 % |
214.5 |
39.4 % |
184.2 |
42.0% |
|
Western |
81.8 |
13.4 % |
87.50 |
16.1 % |
57.5 |
13.1% |
|
Inside the Kingdom |
441.1 |
72.2 % |
435.8 |
80.0 % |
330.2 |
75.3% |
|
Outside the Kingdom |
169.9 |
27.8 % |
108.7 |
20.0 % |
108.3 |
24.7% |
|
Total |
610.9 |
100 % |
544.5 |
100 % |
438.5 |
100.0% |
The private sector accounts for approximately 79% of the company’s total revenue, amounting to around SAR 345 million. The public sector represents the remaining 21%, with about SAR 94 million, out of the company’s total revenue of SAR 438.5 million as of Sept. 30, 2024.
|
Company Profile |
|
|
Company |
Rawabi Marketing International |
|
Market |
Nomu-Parallel Market |
|
Core Activities |
Marketing of chemical products and materials |
|
Pre-IPO Capital |
SAR 145 mln |
|
Number of Shares |
14.5 mln |
|
Post-IPO Capital |
SAR 155 mln |
|
Number of Shares |
15.5 mln |
|
Par Value |
SAR 10 |
|
IPO Summary |
|
|
Stake Sale |
6.45% of post-IPO capital and 6.90% of pre-IPO capital |
|
Offered shares |
1 mln |
|
IPO Minimum Limit |
10 shares |
|
IPO Maximum Limit |
774,990 shares |
|
Offer Period |
Aug. 27 to Sept. 3, 2025 |
|
Final Allocation |
Sept. 7, 2025 |
|
Surplus Refund (if any) |
Sept. 9, 2025 |
|
Ownership Structure |
||||
|
Shareholders |
Pre-IPO |
Post-IPO |
||
|
No. of Shares (mln) |
Ownership Percentage |
No. of Shares (mln) |
Ownership Percentage |
|
|
Matar Saud M. Al-Arifi |
1.51 |
10.44% |
1.51 |
9.77% |
|
Bandar Saud M. Al-Arifi |
1.51 |
10.44% |
1.51 |
9.77% |
|
Barakat Saud M. Al-Arifi |
1.51 |
10.44% |
1.51 |
9.77% |
|
Bashir Saud M. Al-Arifi |
1.51 |
10.44% |
1.51 |
9.77% |
|
Basil Saud M. Al-Arifi |
1.51 |
10.44% |
1.51 |
9.77% |
|
Bader Saud M. Al-Arifi |
1.51 |
10.44% |
1.51 |
9.77% |
|
Sarah Mohammed A. Al-Arifi |
0.61 |
4.22% |
0.61 |
3.94% |
|
Al-Bandari Abdullah Saud Al-Arifi |
0.61 |
4.22% |
0.61 |
3.94% |
|
Khalil Turki Khalil Sulaiman |
0.52 |
3.60% |
0.52 |
3.37% |
|
Ghada Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Widad Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Haifaa Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Bushra Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Warda Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Nada Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Laila Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Amal Saud M. Al-Arifi |
0.41 |
2.81% |
0.41 |
2.63% |
|
Soad Saud M. Al-Arif |
0.41 |
2.81% |
0.41 |
2.63% |
|
New Shares to be Offered to Qualified Investors |
-- |
-- |
1.00 |
6.45% |
|
Total |
14.50 |
100% |
15.50 |
100% |
|
Additional Information |
|
|
Financial Advisor |
Watheeq Capital |
|
Lead Manager |
Derayah Financial |
|
Receiving Agents |
Derayah Financial, Alinma Investment, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, ANB Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, EFG-Hermes, Musharaka Capital, and Awaed Alosool Capital. |
Be the first to comment
Comments Analysis: