Logo of Balsm Alofoq Medical Co.
Qualified investors start today, Dec. 1, subscribing to 250,000 shares of Balsm Alofoq Medical Co. on the Nomu-Parallel Market at SAR 60 per share, as determined in the book-building process.
The offered shares represent 25% of pre-IPO capital or 20% of post-IPO capital.
The company's post-IPO capital will increase to SAR 12.5 million, divided into 1.25 million shares at a par value of SAR 10 each.
The share sale will run for five working days until Dec. 5.
The IPO of Balsm Alofoq brings the total number of listings on the parallel market to 26 this year, following the cancellation of Al-Hokail Academy Specialized Digital Polyclinics Co.’s offering and the postponement of Kinan International for Real Estate Development Co.’s listing.
In September 2024, the Capital Market Authority (CMA) approved Balsm Alofoq’s request to register and float its shares on Nomu.
The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own accounts. This is in addition to clients of capital market institutions authorized to carry out management operations, provided they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.
The categories include the Saudi government, any government or international entity approved by the CMA, the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center Co. (Edaa).
They also include companies owned by the government, directly or through a portfolio managed by a person authorized to practice management operations. This is in addition to investment funds, companies, and funds established in the GCC countries.
Additionally, the qualified investors include any legal person entitled to open investment accounts inside the Kingdom and with Edaa, as well as natural persons allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:
They should have executed transactions in the capital markets worth a minimum of SAR 40 million and at least 10 deals in each quarter during the past 12 months.
Natural persons should also have a net asset value of at least SAR 5 million and be working or have worked for at least three years in the financial sector.
They should hold a CMA-approved certificate in securities dealing and a professional certificate in the field of securities business, approved by an internationally recognized body.
The list of qualified investors includes also any other persons as defined by the CMA.
Company Profile
Balsm Alofoq, founded in 2012 as a sole proprietorship, became a limited liability company in 2021 and transitioned to a closed joint-stock company in 2024. Its headquarters is in Buraidah.
The company provides therapeutic and cosmetic dental services through two facilities: Balsm Alofoq Medical Dental Complex and Enaya Al-Nahda Medical Complex. It also sells medical supplies.
Balsam Alofoq operates an SFDA-licensed medical devices and supplies warehouse.
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Company Profile |
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Company |
Balsm Alofoq Medical Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Dentistry |
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Pre-IPO Capital |
SAR 10 mln |
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Number of Shares |
1 mln |
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Post-IPO Capital |
SAR 12.50 mln |
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Number of Shares after IPO |
1.25 mln |
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Par Value |
SAR 10/share |
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IPO Summary |
|
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Issue Percentage |
25% of pre-IPO capital 20% of post-IPO capital |
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Offered Shares |
250,000 |
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IPO Minimum Limit |
10 shares |
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IPO Maximum Limit |
62,490 shares |
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Offer Period |
Dec. 1-5, 2024 |
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Final Allocation |
Dec. 10, 2024 |
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Surplus Refund (if any) |
Dec. 12, 2024 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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Number of Shares (‘000) |
Ownership (%) |
Number of Shares (‘000) |
Ownership (%) |
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Khamis Abdullah Duhailan Al-Harbi |
750.00 |
75 % |
750.00 |
60.00 % |
|
Ghadeer Khamis Abdullah Al-Harbi |
75.00 |
7.5 % |
75.00 |
6.00 % |
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Raghad Khamis Abdullah Al-Harbi |
62.50 |
6.25 % |
62.50 |
5.00 % |
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Rami Khamis Abdullah Al-Harbi |
43.75 |
4.38 % |
43.75 |
3.50 % |
|
Raed Khamis Abdullah Al-Harbi |
37.50 |
3.75 % |
37.50 |
3.00 % |
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Ryan Khamis Abdullah Al-Harbi |
31.25 |
3.13 % |
31.25 |
2.50 % |
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Qualified investors |
-- |
-- |
250.00 |
20 % |
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Total |
1000 |
100 % |
1250 |
100 % |
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Additional Information |
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Financial Advisor and Lead Manager |
Yaqeen Capital |
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Receiving Entities |
Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyad Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Saudi Fransi Capital, SAB Invest, Alkhabeer Capital, Sahm Capital, Derayah Financial |
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