Logo of Nahdi Medical Co.
Retail investors will start today, March 13, subscription to about 3.9 million shares of Nahdi Medical Co., representing 10% of the shares offered, at SAR 131 each, as set by the book-building process.
The Capital Market Authority (CMA) approved, in December, an application by Nahdi to offer 39 million shares, or 30% of its share capital, in an initial public offering (IPO).
The retail tranche’s subscription process will run for three days till March 15.
The company’s institutional offering, which ended last week, was 59x covered, with total applications reaching nearly SAR 299 billion.
Nahdi’s IPO will be the sixth on the main market this year, following the IPO of East Pipes Integrated Company for Industry on Jan. 24, Scientific & Medical Equipment House Co. on Jan. 31, Elm Co. on Feb. 3, Al-Dawaa Medical Services Co. (DMSCO) on Feb. 27 and Al Masane Al Kobra Mining Co. (AMAK).
Last year witnessed nine IPOs, including Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co., solutions, International Company for Water and Power Projects (ACWA Power), Arabian Contracting Services Co. (Al Arabia), Nayifat Finance Co., Saudi Tadawul Group, and Almunajem Foods Co.
Company Info
Established in 1986 as a sole proprietorship, Nahdi Medical currently has a capital of SAR 1.3 billion, divided into 130 million shares.
The company's main activities include pharmacy activities, drug warehouse activities and retail sales of equipment and medical supplies, in addition to wholesale of medical equipment and appliances.
The retail pharmacy chain provides its services through a network of 1,152 stores spread across 144 cities and villages, representing 97% of the Kingdom's population, in addition to managing three distribution centers across Saudi Arabia.
Nahdi Medical is the largest pharmacy retail company in Saudi Arabia, with a total sales of SAR 9.1 billion in 2020.
The company said in its prospectus that it retained a 31% share of its total retail sales value in 2020.
|
Pharmacies by Administrative District |
||
|
Branch |
Number |
Percentage-to-total |
|
Riyadh |
308 |
26.7 % |
|
Jeddah |
275 |
23.9 % |
|
Makkah and Taif |
167 |
14.5 % |
|
Abha |
191 |
16.6 % |
|
Madinah |
109 |
9.5 % |
|
Dammam |
101 |
8.8 % |
|
Dubai |
1 |
0.1 % |
|
Total |
1,152 |
100 % |
|
Company Profile |
|
|
Company |
Nahdi Medical Co. |
|
Market |
Main market |
|
Core Activities |
Pharmacy activities |
|
Capital |
SAR 1.3 bln |
|
Number of shares |
130 mln |
|
IPO Summary |
|
|
Issue percentage (%) |
30% |
|
IPO price |
SAR 131/share |
|
Retail tranche |
3.9 mln shares (representing 10% of the offering) |
|
Qualified subscribers |
Retail investors |
|
IPO minimum limit for retail investors |
10 shares |
|
Maximum limit for retail investors |
250,000 shares |
|
Retail subscription period |
3 days (March 13-15) |
|
Final allocation |
March 20 |
|
Surplus refund |
March 23 |
|
Special Information |
|
|
Financial advisors, underwriters and institutional book runners |
HSBC Saudi Arabia, SNB Capital |
|
Lead manager |
SNB Capital |
|
Receiving banks |
Saudi National Bank, Al Rajhi Bank, Riyad Bank, Arab National Bank, SABB |
|
Company Shareholders |
||||
|
Shareholders |
Before IPO |
After IPO |
||
|
Number of shares (mln shares) |
Ownership (%) |
Number of shares (mln shares) |
Ownership (%) |
|
|
SEDCO Holding |
65.00 |
50 % |
45.50 |
35 % |
|
Al Nahdi Holding |
65.00 |
50 % |
45.50 |
35 % |
|
Public |
-- |
-- |
39.00 |
30 % |
|
Total |
130.00 |
100 % |
130.00 |
100 % |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}