Public Warehousing issues prospectus for IPO on Nomu

26/09/2017 Argaam

The Public Warehousing Company has issued the prospectus of its initial public offering (IPO) on the Nomu Parallel Market, after obtaining the required regulatory approvals, the company said in a statement.

 

Public Warehousing plans to offer 1.29 million shares, or 30 percent of capital, which will increase its total shares to 4.29 million shares at a set price of SAR 10 per share.

 

On Aug. 17, the Capital Market Authority approved Public Warehousing’s request to increase capital to SAR 42.9 million from SAR 30 million.

 

The IPO is set to launch from Oct. 2 to Oct. 15, and will be limited to qualified investors only, as per Nomu regulations.

 

Mansour Abdulaziz Al Subaie is one of the company’s major stakeholders.

 

Company Profile

Company

Public Warehousing Co.

Stock market

Nomu Parallel Market

Company’s core business

Setting up and managing warehouses close to main ports, airports and highways

Company’s status

Active

Company’s capital before IPO

SAR 30 mln

Company’s capital after IPO

SAR 42.86 mln

 

IPO Details

IPO Percentage

30%

Number of IPO shares

1.29 mln shares

Issuance price

Within a price range of SAR 53-63 /share

Subscribers

Nomu qualified investors

Minimum subscription

500 shares

Maximum subscription limit

214,299 shares

Subscription date

From Oct. 2 until Oct. 15, 2017

Additional Details

Financial advisor & lead manager

Aljazira Capital

Use of IPO proceeds

To finance future projects

 

Major Shareholders

Shareholder

Number of shares before IPO (‘000)

Stake before IPO

Number of shares after IPO (‘000)

Stake after IPO

Mansour Abdulaziz Al Subaie

1,500

50.0%

1,500

35.0 %

Dalal Khaled Al Subaie

300

10.0%

300

7.0 %

Abdulaziz Mansour Al Subaie

150

5.0%

150

3.5%

Mishari Mansour Al Subaie

150

5.0%

150

3.5%

Ahmed Mansour Al Subaie

150

5.0%

150

3.5%

Fajr Mansour Al Subaie

150

5.0%

150

3.5%

Hessa Mansour Al Subaie

150

5.0%

150

3.5%

Mounira Mansour Al Subaie

150

5.0%

150

3.5%

Fawaz Mansour Al Subaie

150

5.0%

150

3.5%

Ward Mansour Al Subaie

150

5.0%

150

3.5%

Public

--

--

1,286

30%

Total

3,000

100.0%

4,286

100.0%

 

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