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Morabaha Marina Financing Co.

MRNA

Main News

Morabaha Marina to debut on Tadawul todayArgaam Special

Morabaha Marina to debut on Tadawul on June 21Argaam

Edaa deposits Morabaha Marina subscribed shares into shareholders’ accountsArgaam

Morabaha Marina retail IPO 551% covered; 10 shares/subscriberArgaam

Retail subscription to 2.14 mln shares of Morabaha Marina IPO starts todayArgaam Special

Overview of Morabaha Marina retail offering, important dates Argaam

Here’re receiving banks for Morabaha Marina IPOArgaam

Al Mawarid, Morabaha Marina, Jamjoom compliant with Shariah: Albilad CapitalArgaam

Morabaha Marina prices IPO at SAR 13-14.60/shareArgaam

Morabaha Marina sets SAR 14.60/shr final offer priceArgaam

Morabaha Marina issues prospectus to list 21.43 mln sharesArgaam

CMA approves Morabaha Marina’s offering of 21.43 mln shares on Tadawul Argaam

Morabaha Marina net profit up 26% to SAR 37.1 mln in 9M 2022; Q3 at SAR 10.7 mlnArgaam

Morabaha Marina posts 37% profit jump to SAR 26.4 mln in H1 2022, Q2 at SAR 12.7 mlnArgaam

Morabaha Marina acquires 80% of LoopArgaam

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
Talal Ibrahim Ali Al-Maiman	5.58	7.81 %
Abdulrahman Mohammed Abdulrahman Al-Ghumlas	5.32	7.45 %

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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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 .