Mohammed Hadi Al-Rasheed issues supplementary prospectus for Nomu IPO

Logo of Mohammed Hadi Al-Rasheed Co.

Mohammed Hadi Al-Rasheed Co. issued a supplementary prospectus for its planned offering of 1.44 million shares on Nomu-Parallel Market.

The company's supplementary prospectus included amending some of the information in the table of recipients, adding Al Rajhi Capital and Saudi Fransi Capital to the receiving entities.

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The supplementary prospectus also entailed changing some information in the “Dividend Distribution Policy” section of the preliminary prospectus, thereby factoring in the previously-announced interim dividend distributions after the financial period included in the IPO application.

On Sept. 5, 2023, Mohammed Hadi Al-Rasheed's board of directors agreed to distribute SAR 4.5 million dividends to the company’s shareholders on a pro-rata basis, based on the general assembly’s approval on May 25, 2023, to authorize the board members to distribute interim and annual dividends.

On Dec. 10, 2023, the board agreed to distribute SAR 4.32 million dividends to shareholders on a pro-rata basis, based on the abovementioned general assembly’s approval.

Mohammed Hadi Al-Rasheed announced, on March 28, its prospectus to float 1.44 million ordinary shares on Nomu. The offered shares represent 12% of the company’s SAR 120 million capital, divided into 12 million shares, according to Argaam's data.

The offering will run from April 28 to May 6.