Samba Capital & Investment Management Company (“Samba Capital”), the Financial Advisor, Bookrunner, Lead Manager and Sole Underwriter for Leejam Sports Company’s (“Leejam”) IPO announced that the institutional book building process was successfully completed in compliance with the guidelines of the Capital Market Authority (“CMA”), with a price set at SAR 52 per share.
The book building process generated an order book of around SAR 6.8 billion and resulted in a subscription of 831% of the total offered shares as per the following breakdown:
1) Public Funds, Private Funds and Discretionary Portfolios 606%
2) Non-KSA investors (including GCC investors, QFIs and non-resident investors through swap agreements) 77%
3) Others (including Government Institutions, Private Companies, Insurance Companies and Authorised Persons) 147%
Accordingly, the 15.7 million offered shares (representing 30% of the Company’s share capital) will be provisionally allocated to the subscribing institutional investors. The final allocation to institutional investors will happen after completion of the retail tranche of the IPO.
1,571,501 shares (representing 10% of the total shares offered in the IPO) will be offered to individual investors in the retail offering that will start on Wednesday 01/08/2018 till the end of Tuesday 07/08/2018. The number of shares allocated to the institutional tranche will be accordingly adjusted based on subscription from individual investors.
About Leejam Sports Company: Leejam is the largest fitness centre operator in Saudi Arabia and the MENA region. It owns and operates fitness centres under the “Fitness Time” brand. As of 31/12/2017, Leejam operated 112 fitness centres, with 108 fitness centres across 23 cities in Saudi Arabia and 4 fitness centres in the UAE. Furthermore, it had 31 fitness centres under development.
About Samba Capital: Samba Capital is a leading investment management firm in Saudi Arabia. Samba Capital offers a full suite of services including Corporate Finance & Investment Banking, Asset Management and Brokerage (Authorised by the Capital Market Authority, license no. 07069-37 and located in Kingdom Centre, King Fahd Road in Riyadh).