Leejam Sports prepares to float 30% of capital on Tadawul

Riyadh-based gym operator Leejam Sports Co. will float 30 percent of its capital in an initial public offering (IPO) on Tadawul as of August 1, IPO manager Samba Capital said.

The book-building period for participating investors will last for nine days between July 17 and July 24. Share price ranges between SAR 45 to 52 per share.

The IPO targets two tranches:

Institutional tranche: It includes all the categories that are entitled to participate in bidding and book-building period. It has 100 percent (15.72 million shares) of total offering size, subject to a scale back to 90 percent (14.14 million shares).

Retail tranche: It includes the Saudi individuals and gulf investors. Up to 10% of total offering size (1.57 million shares) will be allocated for such tranche.

Saudi Arabia’s Capital Market Authority (CMA) has already approved the flotation of a 30 percent shareholding (15.72 million shares) of Leejam.

Leejam is the largest fitness center operator in Saudi Arabia that operates under the brand “Fitness Time.”

IPO Summary
Company’s name	Leejam Sports Co.
Number of shares offered	15.715 mln shares
IPO Price	SAR 45-52 per share
IPO size	SAR 707.2-817.2 mln
Key conditions	Institutional tranche: 100% (15.715 mln shares) of total offering size, subject to a scale back to 90% Retail tranche: Up to 10% of total offering size (1.571shares)
IPO Period	Seven days starting from Wednesday, August 1, 2018, until the end of Tuesday, August 7, 2018
Bidding and book building period	Nine days starting from Monday, Juy 16, 2018, until the end of Tuesday, July 24, 2018
Deadline for submission of Subscription Application Forms (institutions)	Sunday, July 29, 2018
Deadline for payment of the subscription fees (institutions)	Sunday, August 5, 2018
Deadline for submission of Subscription Application Forms (Individual Investors)	Tuesday, August 7, 2018
Final Offer Shares allotment	Tuesday, August 14, 2018
Refund of excess subscription fees (if any)	Tuesday, August 14, 2018
Expected trading commencement date	After completing all relevant legal requirements and procedures

Income Statement (SAR mln)
Item	2016	2017	Variation
Revenue	700.9	732.8	+5%
Net Profit	203.1	174.2	(14%)
Average number of shares (mln share)	52.38	52.38	--
EPS (SAR/share)	3.88	3.33	(14%)

Revenue & Net Profit (SAR mln)
Item	2015	2016	2017
Revenue	594.8	700.9	732.8
Net Profit	182.4	203.1	174.2
Average number of shares (mln share)	52.38	52.38	52.38
EPS (SAR/share)	3.48	3.88	3.33

Balance Sheet (SAR mln)
Item	2015	2016	2017
Cash & cash equivalent	57.2	111.6	73.0
Current assets	159.3	201.0	201.0
Non-current assets	890.6	1155.4	1303.9
Total assets	1049.9	1356.4	1504.9
Short-term loans	62.9	84.3	76.5
liabilities	377.2	411.4	432.8
Long-term loans	217.0	357.4	366.2
Non-current liablities	229.6	421.2	443.2
Total liabilities	606.9	832.6	876.0
Capital	195.0	195.0	523.8
Shareholders’ equity	443.0	523.8	628.9

Leejam Sports Company Prospectus

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