Qualified investors start subscription to 2 mln of Saudi Lime shares today

Logo of Saudi Lime Industries Co.

Qualified investors start today, March 19, subscription to two million shares, or 9.09% of Saudi Lime Industries Co.’s share capital, on Nomu-Parallel Market.

The price range is set between 15 and SAR 17 per share. The five-day subscription period ends on March 23.

Saudi Lime and Meyar Co., which also debuts today on Nomu, are the seventh and eighth IPOs on the parallel market in 2023.

They follow WAJA Co. on Feb. 12, KnowledgeNet Co. and Bena Steel Industries Co. on Feb. 26, as well as Horizon Food Co. on March 5 and Foods Gate and Ghida Al-Sultan Co. on March 12.

Nomu saw 19 IPOs last year, including Gas Arabian Services Co., Raoom Trading Co., Al-Jouf Mineral Water Bottling Co., Arabian International Healthcare Holding Co. (Tibbiyah), Arabian Food & Dairy Factories Co. (FADECO), Ladun Investment Co., Amwaj International Co., Saudi Networkers Services Co. (SNS), International Human Resources Co. (IHR), Naba Alsaha Medical Services Co., Arabian Plastic Industrial Co. (APICO), Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food), Knowledge Tower Trading Co., Molan Steel Co., Saudi Top Trading Co., Leen Alkheir Trading Co., Nofoth Food Products Co. and Alwaha REIT Fund.

In December 2022, the Capital Market Authority (CMA) approved Saudi Lime’s application to offer and list its shares on Nomu.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account, as well as clients of capital market institutions authorized to carry out management operations. This is provided that they are appointed under terms that enable them to take decisions related to accepting the participation in the share offering and investment in the parallel market on behalf of the clients without prior consent.

The categories include the Saudi government, any government body, any international entity approved by the CMA or the Saudi market, or any other capital market recognized by the CMA or the Securities Depository Center (Edaa).

They also include companies owned by the government, directly or through a portfolio managed by a market institution authorized to practice management operations, investment funds, in addition to companies and funds established in the GCC countries.

The investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu, qualified foreign financial institutions, and any legal person entitled to open investment accounts inside the Kingdom and accounts with Edaa.

Natural persons are also among the qualified investors who are allowed to open investment accounts inside the Kingdom and accounts with Edaa, provided that they fulfill certain criteria.

They should have executed transactions in the securities markets worth a total of no less than SAR 40 million, and no less than 10 deals in each quarter during the past 12 months.

Natural persons should also have net assets value of no less than SAR 5 million and be working or have worked for at least three years in the financial sector. They should hold a general certificate in securities dealing, approved by the CMA and a professional certificate in the field of securities business, approved by an internationally-recognized body.

The list of qualified investors includes any other persons to be defined by the CMA.

Company Profile:

 
Headquartered in Riyadh, Saudi Lime was established as a closed joint-stock company in 1977.

 
The company's activities include manufacture of chemical elements, sand bricks, floor blocks, roof tiles, as well as slaked and quicklime.

Saudi Lime’s actual activity is the production and sale of bricks, lime sand blocks, calcium oxide (quicklime), calcium hydroxide (slaked lime), calcium carbonate (limestone), calcium oxide and magnesium (dolomite).

The company’s current capital stands at SAR 200 million divided into 20 million shares.