Alandalus Real Estate, which plans to sell 30 percent of the company in an initial public offering (IPO) in December, will allocate the entire 21 million shares offered to institutional investors, including investment funds and companies.

 

The IPO’s manager, however, has the right to decrease the allocated amount to 60 percent or 12.6 million shares.

 

Saudi retail investors will be eligible to subscribe to 8.4 million shares, or 40 percent of the total shares.

 

Last week, Saudi Arabia’s Capital Market Authority (CMA) approved Alandalus’ request to float 30 percent of its shares in an IPO from December 17 to 23.

 

Copmany Profile 

Alandalus Real Estate

Company

Saudi Stock Exchange (Tadawul)

Stock market

property development

Core business

active

Status

SAR 700 mln

Capital
 

IPO Details

30%

Percentage of shares in IPO

21 mln

Number of allocated shares

--

 Issuance price

--

Size of issue

Saudi citizens and Institutions

Subscribers

Dec. 17 - Dec. 23

IPO date

10 shares

IPO minimum

250 thousand shares

IPO maximum

December 31, 2015

Allocation

December 31, 2015

Surplus payment

Other Details

Riyad Capital

Financial advisor, lead manager and lead

underwriter

SAMBA, Al-Rajhi, NCB, RIBL, SABB,  Saudi Fransi

Receiving banks
 

The company reported SAR 48.2 million profit (SAR 0.69/share) in the first half of 2015, compared to SAR 43.3 million year-on-year.

 

Financial Results (H1)

Change

June-2015

June-2014

Period

+24%

61.3

49.3

Sales

+11%

48.2

43.3

Net Profit

--

70.0

70.0

Average number of shares

+11%

0.69

0.62

Earnings per share (SAR/share)
 

Major Shareholders

Percentage

Shares (mln)

Owners

27.65%

19.35

Burooj Real Estate Co.

17.28%

12.10

Al Zakary Group

6.91%

4.84

Abdulrahman Al Mosa and Sons

6.91%

4.84

Al-Rashid Trading & Contracting Co.

6.91%

4.84

Al-Romaizan for Gold & Jewelry

1.73%

1.21

Mosa bin Abdullah Isma’il

1.73%

1.21

Suliaman Mohammad AlDawood

0.88%

0.61

Ayman Saleh Al-Modifier

30%

21.0

Public

100%

70.0

Total
 

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