AI Summary
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.
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Copmany Profile |
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Alandalus Real Estate |
Company |
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Saudi Stock Exchange (Tadawul) |
Stock market |
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property development |
Core business |
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active |
Status |
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SAR 700 mln |
Capital |
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IPO Details |
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30% |
Percentage of shares in IPO |
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21 mln |
Number of allocated shares |
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-- |
Issuance price |
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-- |
Size of issue |
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Saudi citizens and Institutions |
Subscribers |
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Dec. 17 - Dec. 23 |
IPO date |
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10 shares |
IPO minimum |
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250 thousand shares |
IPO maximum |
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December 31, 2015 |
Allocation |
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December 31, 2015 |
Surplus payment |
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Other Details |
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Riyad Capital |
Financial advisor, lead manager and lead underwriter |
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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.
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Financial Results (H1) |
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Change |
June-2015 |
June-2014 |
Period |
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+24% |
61.3 |
49.3 |
Sales |
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+11% |
48.2 |
43.3 |
Net Profit |
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-- |
70.0 |
70.0 |
Average number of shares |
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+11% |
0.69 |
0.62 |
Earnings per share (SAR/share) |
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Major Shareholders |
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Percentage |
Shares (mln) |
Owners |
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27.65% |
19.35 |
Burooj Real Estate Co. |
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17.28% |
12.10 |
Al Zakary Group |
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6.91% |
4.84 |
Abdulrahman Al Mosa and Sons |
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6.91% |
4.84 |
Al-Rashid Trading & Contracting Co. |
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6.91% |
4.84 |
Al-Romaizan for Gold & Jewelry |
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1.73% |
1.21 |
Mosa bin Abdullah Isma’il |
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1.73% |
1.21 |
Suliaman Mohammad AlDawood |
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0.88% |
0.61 |
Ayman Saleh Al-Modifier |
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30% |
21.0 |
Public |
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100% |
70.0 |
Total |
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