Qualified investors start subscription to Abdul Aziz Al-Twijri’s 600,000 shares today

Logo of Abdul Aziz Al-Twijri Trading Co.

Qualified investors started today, June 11, subscription to 600,000 of Abdul Aziz Al-Twaijri Trading Co.’s shares in an initial public offering (IPO) on Nomu-Parallel Market.

The offered shares represent 13.04% of Abdul Aziz Al-Twijri's SAR 46 million capital, divided into 4.6 million shares. The price range was set between SAR 60 and SAR 63 per share.

The subscription period will run until June 15.

With Abdul Aziz Al-Twijri's IPO, offerings on Nomu would reach 13 in 2023, following WAJA Co. on Feb. 12, Bena Steel Industries Co. and KnowledgeNet Co. (Feb. 26), Horizon Food Co. (March 5), Ghida Al-Sultan and Foods Gate Co. (March 12), Saudi Lime Industries Co. and Meyar Co. (March 19), Almuneef Company for Trade (May 14), Tam Development Co. (May 21) as well as Saudi Call Trading Co. and Al Razi Medical Co. (June 4).

Nomu saw 19 IPOs last year, including Gas Arabian Services Co., Raoom Trading Co., Al-Jouf Mineral Water Bottling Co., Arabian International Healthcare Holding Co. (Tibbiyah), Arabian Food & Dairy Factories Co. (FADECO), Ladun Investment Co., Amwaj International Co., Saudi Networkers Services Co. (SNS), International Human Resources Co. (IHR), Naba Alsaha Medical Services Co., Arabian Plastic Industrial Co. (APICO), Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food), Knowledge Tower Trading Co., Molan Steel Co., Saudi Top Trading Co., Leen Alkhair Trading Co., Nofoth Food Products Co. and Alwaha REIT Fund.

The Capital Market Authority (CMA), on March 29, gave the go-ahead for Abdul Aziz Al-Twijri to register and offer 600,000 shares, or 13.04% of its share capital, on Nomu-Parallel Market, according to Argaam's data. 
 

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account, as well as 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 categories include the Saudi government, any government body or international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).

They also include companies owned by the government, directly or through a portfolio managed by a market institution authorized to practice management operations, investment funds, in addition to companies and funds established in the GCC countries.

Investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu, qualified foreign financial institutions and any legal person entitled to open investment accounts inside the Kingdom and with Edaa.

Natural persons are also among the qualified investors allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria.

They should have executed transactions in the securities markets worth a total of no less than SAR 40 million, and at least 10 deals in each quarter during the past 12 months.

Natural persons should also have a net asset value of no less than SAR 5 million and be working or have worked for at least three years in the financial sector.

They should hold a general certificate in securities dealing, approved by the CMA, and a professional certificate in the field of securities business, approved by an internationally-recognized body.

 The list of qualified investors includes any other persons to be defined by the CMA.

Company Profile

Established in 2007 as a limited liability Co. (LLC), Abdul Aziz Al-Twijri turned into a closed joint stock firm in 2021.

According to its commercial register, the Riyadh-based company’s activities include the wholesale sale of cosmetics, medical devices and supplies, soaps and detergents, online retail, management and leasing of non-residential real estate. This is besides hardware, general commodity and dry food stores.
 

Abdul Aziz Al-Twijri's current business activities, as stated in the prospectus, comprise the wholesale sale of foodstuff, cleaning and personal care products as well as medical supplies through the company-owned stores and warehouses. This is in addition to real estate management and leasing.

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