Sumou Real Estate issues prospectus for IPO on Nomu

Sumou Real Estate Co. issued a prospectus for its initial public offering (IPO) on the parallel market (Nomu).

The company plans to float 7.50 million shares or 30% of its SAR 250 million capital in the planned IPO.

The prospectus determined the offering price at SAR 24 per share for a total of SAR 180 million.

In December, the Capital Market Authority (CMA) approved Sumou Real Estate Co.’s request to sell 7.5 million shares on Nomu, Argaam reported.

Major Shareholders
Shareholder	Number of shares after IPO (mln shares)	Stake %
Sumou Holding	17.15	68.6 %
Bisan Commercial and Real Estate Investment Co.*	0.18	0.7 %
Sumou Society	0.18	0.7 %
Public	7.50	30.0 %
Total	25.00	100.00 %

*Owns 3.47% in Sumou Real Estate after IPO indirectly through Sumou Holding and Sumou Society.

Company Profile
Company	Sumou Real Estate
Market	Nomu
Main activities	It works in implementing and managing real estate development and investment in the Kingdom of Saudi Arabia, such as commercial centers, residential complexes, housing units and infrastructure for industrial and commercial establishments, economic cities and free zones.
Capital	SAR 250 mln

IPO Summary
Issue percentage (%)	30%
Number of shares offered	7.50 mln shares
IPO Price	SAR 24/share
Issue size	SAR 180 mln
Qualified subscribers	Qualified investors according to the Capital Market Authority
IPO minimum limit	10 shares
IPO maximum limit	1.25 mln shares
IPO period	From Feb. 16, 2020 until March 19, 2020
Allotment	March 24, 2020
Surplus return	March 29, 2020

Additional Information
Financial advisor	Al Dukheil Financial Group
Receiving banks	Derayah Financial

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