Saudi White Cement Co. announced the shares listing guide for the purpose of direct listing on the Nomu Parallel Market.
The company set the price guidance for the initial public offering (IPO) in the parallel market at SAR 20.
According to data compiled by Argaam, the Capital Market Authority (CMA) approved, on June 29, the first direct listing of Saudi White Cement Co. on the Nomu Parallel Market.
Related: CMA approves first direct listing of Saudi White Cement on Nomu
Saudi White Cement Co., a joint stock company, was established in 1997, in Riyadh with a capital of SAR 300 million. It is one of the first companies to manufacture white cement across the Kingdom, which started its production in 2001.
The company raised its capital to SAR 1.2 billion in 2011, by issuing 90 million new shares in favor of Riyadh Cement Co. (RCC) shareholders, to acquire all the shares in its capital.
According to the registration document, Al-Rashed Company is the largest owner in the Saudi White Cement Co. with a 23.2% stake.
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Major Shareholders before IPO |
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Shareholders |
Number of shares (mln) |
Stake % |
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Al-Rashed Company |
27.86 |
23.2 % |
|
Prince Sultan Bin Salman Bin Abdulaziz Al Saud |
9.73 |
8.1 % |
|
Prince Muhammad Bin Fahd Al Saud |
7.32 |
6.1 % |
|
Other shareholders (420 shareholders) |
75.09 |
62.6 % |
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Total |
120.00 |
100 % |
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Company Profile |
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Company |
Saudi White Cement Co. |
|
Stock market |
Nomu - Parallel Market |
|
Core Activities |
Producing white cement, and managing, operating and maintenance of cement plants. |
|
Status |
Active |
|
Capital |
SAR 1.2 bln |
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IPO Profile |
|
|
Indicative share price |
SAR 20 |
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Categories of investors eligible to trade the company's shares |
- Trading shares subject to IPO in the parallel market is restricted to the current shareholders, except for major shareholders owning 5% or more and subject to the lock-up period. - Qualified investors |
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Additional Information |
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Financial advisor |
FALCOM |
The categories of qualified investors are as follows:
- Authorized persons who act for their own account.
- Clients of a person authorized by the CMA to conduct activities management with the provisions and restrictions set forth in the book-building instructions.
- Government entities, any international body recognized by the CMA, the Exchange, or any other stock market recognized by the CMA, or the Depository Centre.
- Government-owned companies, investing directly or through a portfolio manager.
- Companies and funds established in the GCC
- Investment funds
- Non-resident foreigners who are permitted to invest in the parallel market and who fulfill the requirements stipulated in the investment guideline.
- Qualified foreign financial institutions.
- Legal persons who will open an investment account in the Kingdom, and an account with the Depository Centre.
- Natural persons allowed to open an investment account in the Kingdom, and an account with the Depository Centre and fulfill any of the following criteria:
1) He/she has conducted transactions in the stock market of no less than SAR 40 million in total, and no less than 10 transactions in each quarter in the last 12 months.
2) Value of his/her net assets should be worth no less than SAR 5 million.
3) He/she works or has previously worked for at least three years in the financial sector.
4) He/she holds the General Securities Qualification Certificate, recognized by the CMA.
5) He/she holds a professional certificate specializing in securities business and accredited by an internationally recognized entity.
6) Any other persons prescribed by the CMA.
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