Morabaha Marina Financing Co.
(MRNA)
IPO Facts
  • Issue TypeIPO
  • StatusListed
  • Exchange MarketTASI
  • SectorServices
  • CountrySaudi Arabia
  • Offered Shares (M)21.43 Million Shares
  • Offered Percentage42.86 %
  • Offer Price (Riyal)14.60
  • Issue Volume312.86 Million
  • Premium4.60
  • Available Shares (Individual)2.14 Million Shares
  • Minimum Subscription (Individuals)10.00 Shares
  • Maximum Subscription (Individuals)250.00 Thousand Shares
  • Available Shares (Institutions)19.29 Million Shares
  • Minimum Subscription (Institutions)100.00 Thousand Shares
  • Maximum Subscription (Institutions)3.57 Million Shares
  • Eligibility _ Participating Parties, _ Individual Investors .
  • Use of ProceedsThe Net Proceeds after deducting the Offering expenses will be distributed to the Company to support general and operational expenses and the future growth of financing activities by providing additional financing capacity that will allow the Company to provide financing to individuals and SMEs .
  • Restrictions on Dealing in SharesMajor shareholders in the Company shall be subject to a look-up period of (6) months starting from the date on which shares of the Company are traded in the market where they may not dispose shares during this period. After the lapse of this period, they may dispose their shares without the need to get a prior consent from the Authority .
  • Prospectus Downloads
Prospectus

Major Shareholders

Name Number of Shares (M) Holding
5.58 7.81 %
5.32 7.45 %

IPO results

Proceeds:
 SAR 172.4 million
Subscription Percentage:
 551%
No. of Subscribers:
 194 thousand subscribers
Allocation:
 10 shares per individual subscriber & The remaining shares will be allocated on a pro rata basis at around 2.05% on average .
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Financials Highlights (M)

USD Riyal
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Company Projects

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Company Board & Directors

Abdul Rahman M. Al-Ghamlas
Chairman of the Board
Khaled M. Al-Onaizan
Vice Chairman
Abdullah M. Alrayes
Board Member
Ibrahim A. Al-Ghamlas
Board Member
Fuhaid M. Al-Osaimi
Board Member

Milestones

  • 21-06-2023 Began trading on the Saudi Stock Exchange.
  • 22-08-2022 The company’s capital was increased to SAR 714.2 million from SAR 500 million.
  • 24-02-2022 The company’s capital was increased to SAR 500 million from SAR 311.3 million through capitalizing retained earnings.
  • 2022 The company acquired an 80% stake in Digital Payments Company for FinTech.
  • 22-04-2021 The company’s capital was increased to SAR 311.3 million from SAR 280.5 million through capitalizing retained earnings.
  • 21-04-2020 The company’s capital was increased to SAR 255 million from SAR 280.5 million through capitalizing retained earnings.
  • 20-08-2019 The company’s capital was increased to SAR 255 million from SAR 228.9 million through capitalizing retained earnings.
  • 19-09-2018 The company’s capital was increased to SAR 228.9 million from SAR 212 million through capitalizing retained earnings.
  • 08-08-2017 The company’s capital was increased to SAR 212 million from SAR 200 million through a bonus share distribution.
  • 2017 The company established a Sukuk issuance program.
  • 31-08-2015 The company’s capital was increased to SAR 200 million from SAR 120 million through a rights issue.
  • 25-06-2014 It was converted into a closed joint-stock company under the name “Morabaha Marina Financing Co. (MMFC)”, with a capital of SAR 120 million.
  • 09-06-2013 The company’s capital was increased to SAR 33 million from SAR 15 million.
  • 28-04-2012 It was established as a limited liability company under the name “Morabaha Marina Installments Company”, with a capital of SAR 15 million.

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