International Human Resources issues prospectus for 20% IPO on Nomu

Logo of International Human Resources Co.

International Human Resources Co. issued the prospectus for offering 500,000 shares, or 20% of post-IPO capital (25% of pre-IPO capital) on Nomu-Parallel Market.

The Capital Market Authority (CMA) recently approved the company’s application for registration and offering of its shares on Nomu.

The company's capital amounts to SAR 20 million, divided into two million shares. The post-IPO capital will amount to SAR 25 million.

Subscription to the company’s shares is limited to qualified investors as follows:

- Capital market institutions acting on their own behalf;

- Clients of a person licensed to conduct activities management with the provisions and restrictions outlined in the book-building instructions.

- The Saudi government, any governmental body, any international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center.

- Companies owned by the government, directly or through a private portfolio manager.

- Companies and funds established in GCC countries;

- Investment funds.

- Non-resident foreign investors who may invest in the Parallel Market and meet the requirements set out in the guidance note for the investment of non-resident foreigners in the Parallel Market;

- Qualified foreign financial institutions.

- Any other legal persons who may open an investment account in the Kingdom and an account with the Depository Center; and

 - Natural persons who can open investment accounts inside the Kingdom and accounts at the Securities Depository Center, and who fulfill the following criteria:

1- To have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months.

2- Net assets value is not less than SAR 5 million.

3- To be working or has worked for at least three years in the financial sector.

4-  To hold a general certificate in securities dealing, approved by CMA.

5- To hold a professional certificate in the field of securities business, approved by an internationally recognized body.

- Any other persons to be determined by CMA.

The company's activities are outsourcing services for human resources, employment services for leading positions, HR-related administrative consultancy, and HR-related employment services and technical products.

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