Leejam Sport’s IPO book-building starts today

Samba Capital, the financial advisor and lead manager of Leejam Sport Co.’s initial public offering (IPO), has started today the institutional book-building process that is scheduled to end on July 24.

The company is floating 30 percent shareholding (15.72 million shares) of its capital on the Saudi stock market. Share price is expected to range between SAR 45 to 52.

The IPO targets two tranches:

Institutional investors: Including all categories of investors entitled to participate in institutional book-building process. It has 100 percent (15.72 million shares) of total offering size, subject to a scaleback to 90 percent (14.14 million shares).

Retail investors: Including individual investors, primarily Saudi nationals. Up to 10% of offer size (1.57 million shares) will be allocated to individuals.

Leejam operated 112 fitness centers, including 108 centers in 23 Saudi cities and four centers in the UAE, as at the end of 2017.