Logo of Saudi Home Loans Co. (SHL)
Saudi Home Loans (SHL) will proceed with its planned initial public offering (IPO) and to list shares on the Saudi Exchange (Tadawul), Riyad Capital, the financial advisor, bookrunner, lead manager, and underwriter on the share sale, said in a statement to Tadawul.
The company is expected to sell 30% of its capital to the public.
A total of 30 million shares or 100% of the offer shares will be allocated for the participating parties. The lead manager has the right in case of sufficient orders by retail subscribers to scale back the number of shares to 90% or 27 million shares, and allocate 10% of the offer size, or 3 million shares, to retail subscribers.
The final offer price will be determined after completing the book-building process.
In December 2021, the Capital Market Authority (CMA) approved a request by SHL to float 30 million shares, or 30% of its share capital in an IPO, Argaam earlier reported.
SHL was established in 2007. It is owned by Dar Al Arkan, Arab National Bank (ANB), and the World Bank’s International Finance Corporation (IFC).
It finances the purchase of homes, residential land, apartments, real estate assets, as well as commercial and industrial projects in the Kingdom.
ANB owns 40% of SHL, while Dar Al Arkan owns a 15% stake.
|
SHL Shareholders |
||
|
Shareholders |
Number of Shares (mln) |
Ownership % |
|
ANB |
40.00 |
40% |
|
Dar Al Arkan |
15.00 |
15% |
|
Kingdom Installment Co. |
9.00 |
9% |
|
Yousef Al Shelash |
8.00 |
8% |
|
Hathlool bin Saleh Al hathlool |
6.00 |
6% |
|
Tareq Mohammed Al Jarallah |
6.00 |
6% |
|
IFC |
5.00 |
5% |
|
Abulatif bin Abdullah al Shelash |
5.00 |
5% |
|
Inma Almadaen Co. |
4.00 |
4% |
|
Daem Al Khaleej Co. |
2.00 |
2% |
|
Total |
100.00 |
100% |
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