Abdul Mohsen al-Hokair Group for Tourism and Development will sell 16.50 million shares, or 30 percent of the company, in an initial public offering from May 28 to June 3 2014, the company said.
The IPO will be divided into two sections. The first section will be for institutional investors, including mutual funds which can subscribe to up to 100 percent of the shares or less. The second section is for Saudi retail investors who can buy up to 8.25 million shares or 50 percent of the total stocks offered, or less.
The proceeds of the IPO after subtracting the cost of SAR 26 million will be distributed to the share sellers.
The company, whose current capital is SAR 550 million, was established in 1978.
The company’s biggest shareholders are Abdul Mohsen al-Hokair & Sons Holding Company and Foras Tourism Company.
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Major Shareholders after IPO |
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|
Stake % |
Number of shares |
Shareholders |
|
31.5% |
17.325 |
Abdulmohsen Al-Hokair &sons Holding Co. |
|
24.5% |
13.475 |
Foras Tourism Co. |
|
12.5% |
6.856 |
Abdulmohsen Abulaziz Al-Hokair |
|
0.5% |
0.281 |
Bandar Khaled Abdulmohsen Al-Hokair |
|
0.5% |
0.281 |
Badr Khaled Abdulmohsen Al-Hokair |
|
0.5% |
0.281 |
Ahmed Khaled Abdulmohsen Al-Hokair |
|
30.0% |
16.50 |
Public shareholders |
|
100.0% |
55.00 |
Total |
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Company’s profile |
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|
Abdulmohsen Al-Hokair Tourism and Development Group |
Company |
|
Saudi Stock Market |
Market |
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Establishing, managing, operating and maintenance of entertainment centers, tourist and health resorts, restaurants, cafes, lounges, parks, hotels, malls, training & educational centers and tourism services. |
Core business |
|
outstanding |
status |
|
SAR 550m |
Capital |
|
IPO Profile |
|
|
30% |
IPO % |
|
16.5m shares |
No. of shares offered |
|
To be determined later |
Issuing price |
|
---- |
Gross IPO Proceeds |
|
Individuals and institutions |
Eligible for IPO |
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Institutions: 100,000 shares Individuals: 10 shares |
Minimum |
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Institutions: 2.750m shares Individuals: 250,000 shares |
Maximum |
|
May 20, 2014 |
Last date for institutions’ IPO |
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May 28 to June 3, 2014 |
IPO Date |
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June 10, 2014 |
Allocation date |
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June 10, 2014 |
Re-underwriting Date |
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Additional information |
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Saudi Faransi Capital |
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Lead manager and financial advisor |
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Al-Jazira bank, Riyad Bank- AlRajhi Bank- SAMBA- NCB- SFB- Saudi investment Bank- Gadwa Investment- Arab national bank |
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Receiving Banks |
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Distributed to selling shareholders after deducting IPO expenses of SAR 26m |
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The use of Net IPO proceeds |
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Income Statement Summary (2011-2013) |
|||
|
2013 |
2012 |
2011 |
year |
|
880.1 |
811.6 |
722.6 |
Revenue (SAR million) |
|
325.9 |
309.9 |
275.7 |
Gross Profit (SAR million) |
|
37 % |
38 % |
38 % |
Gross profit margin |
|
195.7 |
185.8 |
175.8 |
Net Profit (SAR million) |
|
55 |
55 |
55 |
Average number of shares (million) |
|
3.56 |
3.38 |
3.19 |
Earnings per share (SAR/share) |
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Balance sheet (2011-2013) |
|||
|
2013 |
2012 |
2011 |
year |
|
1214.7 |
1000.9 |
1222.4 |
Assets (SAR million) |
|
457.9 |
422.6 |
395.8 |
Liabilities (SAR million) |
|
550.0 |
407.5 |
407.5 |
Capital (SAR million) |
|
758.6 |
578.4 |
826.5 |
Shareholders’ equity (SAR million) |
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