Logo of Quara Finance Co.
Quara Finance Co. issued today, Jan. 15, the prospectus to list 2.65 million shares, representing 8.83% of its capital, on the Nomu-Parallel Market.
The share sale will run from Feb. 4-8 for qualified investors.
The offering will be limited to qualified investors as stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority (CMA).
Established in 2009 in Riyadh as a limited liability company, Quara Finance converted to a Saudi closed joint-stock company in 2013.
The company’s core business is represented in consumer finance, financial leasing, and financing of small and medium enterprises.
In December 2023, the CMA approved the company’s application to float its shares on Nomu.
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Company Profile |
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Company |
Quara Finance Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Consumer finance |
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Capital |
SAR 300 mln |
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Number of Shares |
30 mln |
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IPO Summary |
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Issue Percentage |
8.83% |
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Offered Shares |
2.65 mln |
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Minimum Limit |
10 shares |
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Maximum Limit |
1.5 mln shares |
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Offer Period |
Feb. 4-8, 2024 |
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Final Allocation |
Feb. 15, 2024 |
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Surplus Refund (If any) |
Feb. 18, 2024 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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No. of shares (‘000) |
Ownership (%) |
No. of shares (‘000) |
Ownership (%) |
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Al Mawared Al Oula Company for Real Estate |
10.00 |
33.33 % |
9.117 |
30.39 % |
|
Awayed Financial Co. |
10.00 |
33.33 % |
9.117 |
30.39 % |
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Nawaqis Company for Commerce |
10.00 |
33.33 % |
9.117 |
30.39 % |
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Qualified investors |
-- |
-- |
2.65 |
8.83 % |
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Total |
30.00 |
100 % |
30.00 |
100 % |
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Additional Information |
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Financial Advisor & Lead Manager |
Riyad Capital |
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Bookrunner |
Al Khair Capital |
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