Logo of Riyadh Steel Co.
Riyadh Steel Co. issued today, Oct. 4, the prospectus to list one million shares, or 20% of capital, on Nomu-Parallel Market.
The share sale will run from Nov. 5-13. It will be limited to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA).
Riyadh Steel was established as a branch of a sole proprietorship under the name Maan Bin Hamad Al-Jasser Iron Rolling Factory in Riyadh in 2000. It was then converted into a limited liability company in 2001, and into a joint-stock company in 2022, with its current capital amounting to SAR 5 million.
The company's activities, according to its commercial register, include manufacturing iron sheets, plates, strip rolls, bars, rods, angles, wires and sections of all forms.
The company, according to its Articles of Association, practices and implements the following purposes: Manufacturing industries, wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and warehousing, construction, information technology (IT) and real estate activities.
The CMA approved, in June, the application submitted by the company to register and offer one million shares on Nomu.
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Company Profile |
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Company |
Riyadh Steel Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Iron rolling |
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Capital |
SAR 50 mln |
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Number of Shares |
5 mln |
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IPO Summary |
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Issue Percentage |
20% |
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Offered Shares |
1 mln |
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Minimum Limit |
10 shares |
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Maximum Limit |
49,990 shares |
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Offer Period |
Nov. 5-13, 2023 |
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Final Allocation |
Nov. 16, 2023 |
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Refund (if any) |
Nov. 20, 2023 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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No. of shares (‘000) |
Ownership (%) |
No. of shares (‘000) |
Ownership (%) |
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|
Maan bin Hamad bin Mohammed Al-Jasser |
714.97 |
14.30% |
481.77 |
9.64% |
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Haila bint Abdulaziz bin Abdullah Al-Anqari |
659.34 |
13.19% |
527.47 |
10.55% |
|
Mai bint Hamad bin Mohammed Al-Jasser |
659.34 |
13.19% |
527.47 |
10.55% |
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Noura bint Ibrahim bin Rashid Al Hamid |
351.65 |
7.03% |
281.32 |
5.63% |
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Other shareholders (owning less than 5% of capital) |
2615.00 |
52.29% |
2181.97 |
43.63% |
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Qualified investors |
-- |
-- |
1000.00 |
20.00% |
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Total |
5000.00 |
100% |
5000.00 |
100% |
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Additional Information |
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Financial Advisor and Lead Manager |
Alinma Investment |
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