Saudi Arabia's capital market saw the listing of ten firms and eight real estate investment trusts (REITs) across its two platforms, Tadawul and Nomu in 2017, data compiled by Argaam showed.
Tadawul, the mainstream market, listed a single new entrant, Zahrat Al Waha for Trading Co., in 2017 that floated 30 percent stake of its capital.
Market regulator, Capital Market Authority (CMA), withdrew its approval of a proposed share sale by Arabian Waterproofing Industries Co., upon the latter's request.
|
Zahrat Al Waha IPO - Tadawul |
||||
|
Issuer |
Size (SAR mln) |
Share into Cap (%) |
Coverage |
Proceeds (SAR mln) |
|
Zahrat Al Waha |
229.50 |
30 |
263% retail investors |
120.87 |
Eight real estate investment trusts (REITs) went public in 2017, following the opening of market for this investment vehicle in November 2016.
In terms of IPO coverage, AlMa'athar REIT took the lead by being 15.2x oversubscribed, while Jadwa Al-Haramain REIT came second.
The market regulator approved seven other REITs that have yet to complete procedures and IPO shareholdings in 2018.
|
REIT Listings for 2017 |
||||
|
REIT |
Fund Size (SAR mln) |
IPO Size (SAR mln) |
Coverage (x) |
Proceeds (SAR mln) |
|
Jadwa Al-Haramain |
660.0 |
360.0 |
12.57 |
4530 |
|
Mulkia REIT |
600.0 |
198.5 |
20 |
3950 |
|
Al Masha'ar REIT* |
572.4 |
572.4 |
1 |
-- |
|
Al Ahli REIT 1* |
1375.0 |
412.5 |
1.57 |
-- |
|
Musharaka REIT |
880.0 |
352.1 |
10.21 |
3800 |
|
Taleem REIT |
285.0 |
85.5 |
8.9 |
761 |
|
AlMa'athar REIT |
613.7 |
184.11 |
15.2 |
2800 |
|
AlJazira REIT |
118.0 |
-- |
-- |
-- |
Meanwhile, small- and medium-sized market, Nomu, saw the listing of nine firms in 2017. The SME market applies diluted version of regulations that help small and medium firms gain access to equity financing.
Among Nomu listings, Development Works For Food Co.'s offer came first by coverage and was 5x oversubscribed, followed by Raydan Restaurants and Cuisines Co. (4.93x).
|
New Listings on Nomu |
|||||
|
Company |
Capital (SAR mln) |
Offered Shares (mln) |
IPO % |
Coverage (x) |
Sale Price |
|
Thob Al Aseel |
150.0 |
3.00 |
20% |
1.50 |
85.00 |
|
Raydan |
225.0 |
6.75 |
30% |
4.93 |
32.00 |
|
Abo Moati |
160.0 |
3.20 |
20% |
2.90 |
15.00 |
|
Arab Sea Information |
100.0 |
2.00 |
20% |
2.49 |
11.00 |
|
Baazeem Trading |
101.3 |
3.04 |
30% |
4.21 |
39.00 |
|
Al-Omran Trading |
60.0 |
1.20 |
20% |
2.19 |
28.00 |
|
Al Kathiri |
31.4 |
0.82 |
26.1% |
2.51 |
31.00 |
|
Development Works |
12.5 |
0.25 |
20% |
5.03 |
65.00 |
|
Al-Samaani |
11.3 |
0.23 |
20% |
1.66 |
78.00 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}