Logo of Group Five Pipe Saudi Ltd.
Group Five Pipe Saudi Ltd. issued the prospectus for its initial public offering (IPO) on the Nomu Parallel Market.
The company plans to offer 2.8 million shares, or 10% of its capital, in the IPO.
On Sept. 29, the Capital Market Authority (CMA) approved the company’s request to offer 10% of its capital on Nomu.
The IPO will be confined to qualified investors, according to CMA regulations.
Types of qualified investors:
- Capital market institutions authorized to act on their own account.
- Clients of capital market institutions who are authorized to carry out management operations, provided that such authorized persons are appointed under terms that enable them to take decisions related to accepting the participation in the share offering and investment in the parallel market, on behalf of the client, without the need to obtain prior consent from the client.
- The Saudi government, any governmental body, any international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).
- Companies that are owned by the government, directly or through private portfolio manager.
- Companies and funds established in the GCC countries.
- Investment funds.
- Non-resident foreigners who are allowed to invest in the parallel market and who fulfill the requirements as stipulated in the guide of non-resident foreigners’ investments in the parallel market.
- Qualified foreign financial institutions.
- Any legal person who has the right to open investment accounts inside the Kingdom, and accounts with Edaa.
- Natural persons who can open investment accounts inside the Kingdom and accounts with Edaa, and who fulfill the following criteria:
1) Have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months.
2) Have net assets value is not less than SAR 5 million.
3) Are working or have worked for at least three years in the financial sector.
4) Hold a general certificate in securities dealing, approved by the CMA.
5) Hold a professional certificate in the field of securities business, approved by an internationally recognized body.
- Any other persons to be defined by the CMA.
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Company Profile |
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|
Company |
Group Five Pipe Saudi Ltd. |
|
Market |
Nomu Parallel Market |
|
Core Activities |
Production, sale and marketing of spirally welded steel pipes |
|
Capital |
SAR 280 mln |
|
IPO Summary |
|
|
Issue Percentage |
10% |
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Number of Shares Offered |
2.8 mln |
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Qualified Subscribers |
Qualified investors as defined in the glossary used in CMA's regulations and rules |
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Minimum Limit |
10 shares |
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Maximum Limit |
1,372,000 shares |
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Subscription Period |
Subscription will run from Nov. 14-18 |
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Final Allotment |
Nov. 23 |
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Surplus Refunds |
Nov. 25 |
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Company Shareholders |
||||
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Shareholders |
Before IPO |
After IPO |
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Number of Shares (‘000) |
Ownership (%) |
Number of Shares (‘000) |
Ownership (%) |
|
|
Al-Qahtani Pipe Coating Industries |
11.20 |
40.00% |
10.08 |
36.00% |
|
Abdullah Abdel Hadi Abdullah Al-Qahtani |
3.36 |
12.00% |
3.02 |
10.80% |
|
Tariq Abdel Hadi Al-Qahtani |
2.80 |
10.00% |
2.52 |
9.00% |
|
Salah Abdel Hadi Al-Qahtani |
1.96 |
7.00% |
1.76 |
6.30% |
|
Haifaa Saleh Hamad Al-Sugair |
1.68 |
6.00% |
1.51 |
5.40% |
|
Duha Abdel Hadi Al-Qahtani |
1.40 |
5.00% |
1.26 |
4.50% |
|
Mai Abdel Hadi Al-Qahtani |
1.40 |
5.00% |
1.26 |
4.50% |
|
Others |
4.20 |
15.00% |
3.79 |
13.54% |
|
Public |
-- |
-- |
2.80 |
10.00% |
|
Total |
28.00 |
100% |
28.00 |
100.00% |
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Additional Information |
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Financial Advisor |
Aldukheil Financial Group |
|
Lead Manager |
Derayah Financial |
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