Logo of Saudi Manpower Solutions Co. (SMASCO)
Saudi Manpower Solutions Co. (SMASCO) starts trading on the main Tadawul All Share Index (TASI) today, June 12, under the symbol 1834 and ISIN Code SA562G3GSL11, at SAR 7.5 a share.
The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively, in the first three days of listing. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10% and the static price fluctuation limit will no longer apply.
This is the sixth listing on Saudi Arabia’s main market in 2024, after MBC Holding Group Ltd. listed on (Jan. 8), Middle East Pharmaceutical Industries Co. (Avalon Pharma) on (Feb. 27), Modern Mills Co. on (March 27) , Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care Group) on (June 5) and Miahona Co. on (June 6).
TASI listed seven companies last year, including, Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA), First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co., in addition to Alinma Hospitality REIT Fund.
With this listing, the number of companies listed on TASI reached 219, excluding real estate traded funds, which amount to 18.
The company issued 120 million shares, or 30% of its capital, with 90% allocated to participating parties and the remaining 10% to retail investors.
The retail coverage reached 13x, while the tranche of participating parties was 128x subscribed.
Each retail investor received a minimum of 10 shares, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 0.92007%.
Company Profile
Established in 2012 in Riyadh, the company provides manpower services with a fully-paid capital of SAR 100 million. It is the first company to be licensed for manpower solutions by the Ministry of Human Resources. The company's capital currently stands at SAR 400 million.
The company's activities include administrative services, support services, employment agency activities, and temporary employment agency activities.
According to the commercial register, the company’s activities involve temporary employment agencies for domestic services and temporary employment agencies for expatriate labor services.
The company's core activities consist of the following main business segments:
Corporate segment: This segment is the cornerstone of the group's work, as it provides comprehensive workforce services for several sectors through the professional and unskilled workforce.
Individual segment: This segment provides a wide range of domestic workforce services.
During 2022, the company dominated a market share of 14-16% in the Kingdom.
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Company Profile |
|
|
Company |
Saudi Manpower Solutions Co. (SMASCO) |
|
Market |
TASI |
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Core Activities |
Manpower services |
|
Capital |
SAR 400 mln |
|
Number of Shares |
400 mln |
|
Share Par Value |
SAR 1 |
|
Major Shareholders |
||||
|
Shareholders |
Before IPO |
Post-IPO |
||
|
Number of Shares (mln shares) |
Ownership (%) |
Number of Shares (mln shares) |
Ownership (%) |
|
|
Al Holoul Al Mutakamela Holding Co. |
280.0 |
70.00% |
191.11 |
47.76% |
|
Rafid Advanced Investments Co. |
30.0 |
7.50% |
19.35 |
4.84% |
|
Mohammed Abdulaziz Al Habib Holding |
20.0 |
5.00% |
14.00 |
3.50% |
|
Al Masa Real Estate Co. |
20.0 |
5.00% |
14.00 |
3.50% |
|
Abdullah Nasser Abdullah Al Dawood |
12.0 |
3.00% |
12.00 |
3.00% |
|
Abdullah Amer Munif Al Nahdi |
6.0 |
1.50% |
4.20 |
1.05% |
|
Abdulaziz Abdulrahman Mohammed Al Omran |
5.0 |
1.25% |
3.50 |
0.88% |
|
Al Mojel Trading and Contracting Company |
5.0 |
1.25% |
3.50 |
0.88% |
|
Mohammed Sulaiman Ibrahim Al Sabti |
5.0 |
1.25% |
5.00 |
1.25% |
|
Tareq Othman Abdullah Al Kasabi |
5.0 |
1.25% |
3.50 |
0.88% |
|
Nawat Real Estate Investment Co. |
5.0 |
1.25% |
5.00 |
1.25% |
|
Al Jazeel Arabian Holding Co. |
2.0 |
0.50% |
1.40 |
0.35% |
|
Majed Abdullah Hamad Al Hogail |
2.0 |
0.50% |
1.40 |
0.35% |
|
Etihad Noorah Investment Co. Ltd. |
1.25 |
0.31% |
0.875 |
0.22% |
|
Norah Al Malahi Foundation |
1.25 |
0.31% |
0.875 |
0.22% |
|
Ahmad Yousef Mohammed Salah Jamjoom |
0.5 |
0.13% |
0.350 |
0.09% |
|
Public |
-- |
-- |
120.0 |
30.00% |
|
Total |
400.0 |
100% |
400.0 |
100% |
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