Thob Al-Aseel Co. has issued a prospectus for its IPO on the Nomu Parallel Market after obtaining approval from the Saudi market regulator, the Capital Market Authority (CMA).
The company plans to offer 20 percent of capital, or 3.0 million shares, it said in a statement.
Last April, Thob Al-Aseel obtained the CMA’s approval to increase the number of offered shares from 1 million to 3 million, following its move to hike capital from SAR 50 million to SAR 150 million, by capitalizing SAR 100 million. The offering is scheduled from May 7 – 18, 2017.
The company generated net profit of SAR 74.45 million during the period from January 1 – September 4, 2016.
Earlier this year, the clothing manufacturer merged with Al-Jedaie Group. Financial impact will appear on the first earnings statements issued by the company, chairman Faisal Al-Jedaie said.
Thob Al-Aseel, which was set up 30 years ago, was converted into a closed shareholding company in Sept. 2016. It manufactures ready-made, wholesale and retail garments.
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Major Shareholders |
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Stake (%) |
Number of shares after IPO |
Stake (%) |
Number of shares before IPO |
Shareholders |
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5.12% |
768.0 |
6.40% |
960.0 |
Tarfa Bint Mohammed Al qannas |
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4.48% |
672.0 |
5.6% |
840.0 |
Haila Bint Ali Al Murshed |
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Company Profile |
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Company |
Thobe Al Aseel |
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Stock Market |
Nomu Parallel market |
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Core Business |
Wholesale and retail trade of readymade garments and textiles |
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Status |
Outstanding |
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Capital |
SAR 150 mln |
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