Sign In
×Brief
Company Status: | Listed |
Business Activity: | Providing oil and gas drilling and production services in the Middle East and North Africa. |
Current Capital: | 1,129.06 Million Riyal |
Current No. of Shares (M) (M): |
IPO Facts
Issue Type: | IPO |
Status: | Listed |
Exchange Market: | TASI |
Sector: | Energy & Utilities |
Country: | Saudi Arabia |
Offered Shares (M): | |
Offered Percentage: | 39.47 % |
Offer Price (Riyal): | 13.50 |
Issue Volume (M Riyal): | 4,572.70 |
Premium: | 12.50 Riyal |
Available Shares (Individual): | |
Minimum Subscription (Individuals): | |
Maximum Subscription (Individuals): | 250.00 Thousand Shares |
Available Shares (Institutions): | 304.85 Million Shares |
Minimum Subscription (Institutions): | 100.00 Thousand Shares |
Maximum Subscription (Institutions): | 56.45 Million Shares |
Eligibility : | _ Participating Parties, _ Individual Investors . |
Use of Proceeds: | The IPO net proceeds, after deducting the offer expenses estimated at SAR 102 million, will be distributed on a pro-rata basis to the selling shareholders, and the company, to reduce part of its outstanding debt and finance the growth strategy in addition to achieving the company’s general objectives . |
Restrictions on Dealing in Shares: | _ The major shareholders will be subject to a 6-month lock-up period, during which they will be banned from disposing of their shares, starting from the listing date. They may dispose of their shares after the lock-up period without obtaining a prior approval from CMA . _ ADES Investments Holding entered into a credit facilities agreement with Mauritius Commercial Bank Ltd in its capacity as lender and security agent, under which 6.39% of the total shares owned by ADES Investments Holding in the company prior to the offering, were pledged in accordance with a mortgage pledge agreement concluded between ADES Investments Holding and Mauritius Commercial Bank Ltd. ADES Investments Holding shall use its share of the offering proceeds to repay the loan and all financial liabilities. Accordingly, the pledge over the pledged shares of ADES Investments Holding in the Company shall be lifted upon the listing of the company on the Exchange . |
Prospectus: | Downloads |
: | - |
Key Dates
Capital Market Authority Approval: | 6/21/2023 |
The minimum & maximum offering price: | 9/26/2023 |
Subscription End Date: | 9/28/2023 |
Allocation Date: | 10/4/2023 |
Distribution Date: | 10/10/2023 |
Listing Date: | 10/11/2023 |
Major Shareholders
Name | No. of Shares | Holding | Value |
---|---|---|---|
Ades Investments Holdings Limited | 412.11 | 36.50 % | 8,044.33 |
Public Investment Fund | 268.72 | 23.80 % | 5,245.34 |
Al Zamil Group for Investment Ltd. Co. | 75.65 | 6.70 % | 1,476.63 |
Advisors
Lead Manager: | SNB Capital Company |
Underwriter: | SNB Capital Company, EFG-Hermes KSA, Goldman Sachs Saudi Arabia Co., J.P. Morgan Saudi Arabia Co., GIB Capital LLC, HSBC Saudi Arabia Co., Al Rajhi Capital Company, Saudi Fransi Capital |
Financial Advisor: | SNB Capital Company, EFG-Hermes KSA, Goldman Sachs Saudi Arabia Co., J.P. Morgan Saudi Arabia Co. |
Legal Advisor: | Clifford Chance Co., White & Case LLP , Law Firm of Waad Nasser Alkurini, Abdullah Medallah Law Firm, KN Legal LLP |
Auditor: | - |
Receiving Bank: | Arab National Bank, Al Rajhi Bank, Riyad Bank, The Saudi National Bank |
IPO results
Proceeds: | SAR 4499 million |
Subscription Percentage: | 983.83% |
No. of Subscribers: | 1.31 million subscribers |
Allocation: | 10 shares per individual subscriber & The remaining shares will be allocated on a pro rata basis at around 6.4951% on average . |
Chart - Ades Holding Co.
Share Performance
Last Price: | 19.52 |
Change: | 2.61 % |
Market Cap (M): | 22,197.32 |
Turnover: | 63,653,334.00 |
Transactions: | 5,082.00 |
Share Stats
First Day Open: | 14.84 |
First Day High: | 17.54 |
First Day Low: | 14.84 |
First Day Close: | 17.54 |
1st Day Change: | 29.93 % |
1st Month Change: | 45.33 % |
1st year Change: | - |
Since listing: | 45.63 % |
Related News
EFG Hermes completes advisory on landmark SAR 4.572 bln IPO of ADES Holding on Tadawul Press Release11/10/2023
ADES Holding debuts on Tadawul todayArgaam Special11/10/2023
AlJazira Capital sets ADES Holding’s fair valueArgaam09/10/2023
ADES Holding starts trading on Tadawul on Oct. 11Argaam09/10/2023
ADES retail IPO 983.8% covered, 10 share/subscriberArgaam04/10/2023
Yaqeen Capital sets TP for ADES HoldingArgaam27/09/2023
ADES shares ‘mixed’, compliant with Shariah: Albilad CapitalArgaam26/09/2023
ADES Holding IPO: Subscription period, key datesArgaam26/09/2023
Here’s a list of receiving banks for ADES International IPOArgaam26/09/2023
Retail subscription begins today to 33.87 mln ADES shares on TASIArgaam Special26/09/2023
Call Request