Logo of TAQAT Mineral Trading Co.
TAQAT Mineral Trading Co. issued today, Feb. 14, the prospectus to list 2.44 million shares, representing 20% of its post-IPO capital (25% of pre-IPO capital) on the Nomu-Parallel Market.
The share sale will run from March 6-13 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 as a sole proprietorship in Riyadh in 2017 and becoming a closed joint-stock company in 2021, the company’s current capital stands at SAR 97.5 million. Its business includes recycling iron, metals, and scrap.
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 |
TAQAT Mineral Trading Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Metal Recycling |
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Capital |
SAR 97.5 mln |
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Number of Shares |
121.87 mln |
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IPO Summary |
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Issue Percentage |
20% (25% of pre-IPO capital) |
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Offered Shares |
2.43 mln |
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Minimum Limit |
10 shares |
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Maximum Limit |
609,000 shares |
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Offer Period |
March 6-13, 2024 |
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Final Allocation |
March 18, 2024 |
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Surplus Refund (If any) |
March 21, 2024 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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No. of shares (mln) |
Ownership (%) |
No. of shares (mln) |
Ownership (%) |
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|
Mohammad Alkhunaini |
3.37 |
34.5 % |
3.37 |
27.6 % |
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Ali Al-Hudhaif |
0.59 |
6.0 % |
0.59 |
4.8 % |
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Rest of the shareholders (76 shareholders) |
5.80 |
59.5 % |
5.80 |
47.6 % |
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Qualified investors |
-- |
-- |
2.44 |
20.0 % |
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Total |
9.75 |
100% |
12.19 |
100 % |
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Additional Information |
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Financial Advisor |
Miyar Capital |
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Bookrunner |
Alinma Investment |
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