Almasar Alshamil issues prospectus to sell 30.72M shares on TASI

Almasar Alshamil Education Co. issued its prospectus today, Oct. 26, to sell 30.72 million shares on the Main Market (TASI).

The shares represent 30% of the company’s SAR 1.02 billion capital, divided into 102.40 million shares, each at a nominal value of SAR 10.

The retail initial public offering (IPO) will run from Nov. 18-20, while the book-building process will begin on Nov. 2 and end on Nov. 6.

The Capital Market Authority, the market regulator, greenlit the offering on Sept. 29

The subscription is limited to two categories of investors:

Tranche (A) Participating Parties: This tranche includes the parties entitled to participate in the offering process in accordance with the book-building instructions. It includes investment funds, companies, qualified foreign investors, GCC corporate investors, and certain other foreign investors pursuant to swap agreements.

The number of shares allocated to this tranche is nine million, representing 100% of the shares on offer. The final allocation will take place after the retail offering completion. The lead manager reserves the right to scale back the number of shares for participating parties to a minimum of 21.50 million shares, representing 70% of the total offering shares.

Tranche (B) This tranche includes natural Saudi individuals, including divorced or widowed Saudi women with minor children from a non-Saudi husband, as well as non-Saudi residents and GCC nationals. To be eligible, subscribers must have a bank account with a receiving agent and an active investment portfolio with a financial market institution affiliated with the receiving agent.

The maximum number of shares allocated to this tranche is 9.22 million, representing 30% of the total.

Almasar Alshamil Education Co. was initially established in October 2022 as Amanat Special Education & Care Investment Co., a limited liability company. In September 2024, it was converted into a single-person closed joint stock company and renamed Almasar Alshamil. The company invests in higher education institutions and companies that provide education and care for people with disabilities.

Almasar Alshamil Education issue Prospectus