NCLE debuts on Tadawul today

National Company for Learning & Education (NCLE) will start trading today, Nov. 18 under the code 4291, with a daily price fluctuation limit of 10 percent per share.

NCLE is the market’s second listing this year, after Leejam Sports, bringing the total number of listed firms to 174, excluding the 16 real estate investment traded funds (REITs).

The company allotted 11.7 million shares, or 90 percent of total shares floated to institutional subscribers (155 percent oversubscribed), with the remaining 1.3 million shares, or 10 percent of total shares, allocated to retail investors.

The share price was set at SAR 19.

The Riyadh-based company builds and manages private schools and invests in the sports, entertainment and fitness centers sectors.

The firm currently has four operating educational complexes in Riyadh, in addition to a 29,000 square meter-educational complex under-construction in Al Qirawan.

*For the Fiscal year ended Aug. 31, 2017

**Was inaugurated in the school year 2017/2018

***Expected to start operations in the school year 2019/2020

The company will partially use the IPO’s net proceeds to expand its business by adding four new school complexes.

Mohammed Ibrahim Ali Al-Khudair is the major shareholder after listing with a 49.11 percent stake.