Nomu: Subscription to 2M Kesay shares starts today

Logo of Kesay Clinics Co.

Qualified investors will start subscribing to 2 million shares of Kesay Clinics Co. on the Nomu-Parallel Market today, Feb. 11.

The offering price has been set at SAR 15 per share.

The shares offered represent 5.26% of the company’s pre-IPO capital, amounting to SAR 38 million, divided into 38 million shares, at a par value of SAR 1 each.

The offering will take place through issuing and selling 2 million new shares, accounting for 5% of the company’s post-IPO capital, generating about SAR 40 million.

The subscription will run for seven working days until Feb. 22.

Today’s offering is the first IPO on Nomu this year.

Nomu recorded 28 IPOs during the previous year.

The subscription is limited to qualified investors, including:

- Capital market institutions authorized to act on their accounts.

- Clients of capital market institutions authorized to carry out management operations. This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.

- The Saudi government, any government or international entity approved by the Capital Market Authority (CMA), the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center (Edaa).

- Companies owned by the government, directly or through a portfolio managed by a person authorized to practice management operations.

- Investment funds, companies, and funds established in the GCC countries

- Investment funds

- Natural persons are allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:

1) They should have executed transactions in the securities markets worth a minimum of SAR 20 million, and at least 10 deals in each quarter during the past 12 months.

2) Natural persons should also have a net asset value of at least SAR 5 million.

3) They should be working or have worked for at least three years in the financial sector.

4) They should hold a general certificate in securities dealing, approved by the CMA.

5) They should further hold a professional certificate in the field of securities business, approved by an internationally recognized body.

- Any other persons identified by the CMA.

- To be currently serving or to have previously served as a member of the board of directors or as a member of board committees in companies listed on the Parallel Market.

- Any other persons determined by the CMA.

The CMA approved the company’s request to offer its shares in December 2025.

Kesay was established in 2015 as a sole proprietorship in Riyadh. The company’s core business includes providing medical care services related to dermatology and cosmetic treatments, as well as laser devices and skin and hair care. According to its commercial register, the company’s activities also include integrated administrative services for offices and specialized medical complexes.

The company’s revenue reached approximately SAR 152 million by the end of 2024, up from SAR 149 million in 2023.

The dermatology and cosmetics segment accounted for 76.6% of total revenue, amounting to SAR 116.4 million in 2024, followed by the laser devices segment at 14%, and the skincare and haircare segment at 9%.