Subscription to Basma Adeem Medical 4M shares opens on Nomu today

Logo of Basma Adeem Medical Co.

Investors start today, Jan. 13, subscription to Basma Adeem Medical Co.’s 4 million shares on the Nomu-Parallel Market. The price range was set between SAR 4 and SAR 4.4 a share.

The shares on offer represent 25% of the company's pre-IPO capital of SAR 16 million, divided into 16 million shares at a nominal value of SAR 1 each, and 20% of the post-IPO capital of SAR 20 million.

For More IPOs

The subscription period for qualified investors will run for five days until Jan. 19.

Basma Adeem is the third offering on Nomu in 2025, after ITMAM Consulting Co. and Alshehili Co. on Jan. 5.

The parallel market witnessed 28 IPOs in 2024.

On Oct. 28, 2024, the Capital Market Authority (CMA) approved Basma Adeem’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 or natural persons entitled 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.

They 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 also includes any other persons as defined by the CMA.

Company Profile

Basma Adeem Medical was founded in 2012 and is based in Riyadh. It was incepted as a limited liability company before becoming a closed joint-stock company.

The company’s actual activity is dentistry, offering treatment and cosmetic services. Its commercial registration lists additional activities, including specialty medical complexes, day surgery centers, medical clinics, and managing the operations of these facilities.

Board member Azzam Al-Mufdi holds a 1.83% indirect stake in the company’s pre-IPO share capital that will become 1.47% after the offering. This is given his 5% shareholding in Sahmeen Investment, which owns 3.67% and 2.94% of the company’s pre- and post-IPO shares, respectively.