{"id":84465,"date":"2024-05-28T00:00:00","date_gmt":"2024-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/05\/28\/ksas-miahona-closes-retail-portion-of-ipo-on-tadawuls-main-market\/"},"modified":"2024-05-28T00:00:00","modified_gmt":"2024-05-28T00:00:00","slug":"ksas-miahona-closes-retail-portion-of-ipo-on-tadawuls-main-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/05\/28\/ksas-miahona-closes-retail-portion-of-ipo-on-tadawuls-main-market\/","title":{"rendered":"KSA\u2019s Miahona closes retail portion of IPO on Tadawul\u2019s main market"},"content":{"rendered":"

Water treatment outfit Miahona\u2019s retail offering was 6.1x oversubscribed<\/strong>, with retail investors set to secure a minimum of 10 shares each, lead manager Saudi Fransi Capital said in a disclosure to Tadawul<\/a>. A strong demand from retail investors will see the total offering for institutional investors fall to 80% despite it being 170x covered<\/a>.<\/p>\n

What\u2019s next? <\/strong>Rump shares will be allocated to subscribers on a pro-rata basis to fulfill the remaining demand, with an allocation ratio of 11.6% for every subscribed share, according to the disclosure. Miahona\u2019s date of listing is yet to be announced. <\/p>\n

Background: <\/strong>The sole owner of Miahona \u2014 Vision Invest \u2014 is selling a 30% stake<\/a>on<\/a>Tadawul\u2019s main<\/a>marke<\/a> t in a secondary share sale. The IPO was priced top<\/a>of the range<\/a> at SAR 11.5 per share, valuing the IPO at SAR 555.5 mn, and giving the company a market cap of SAR 1.85 bn post-listing. The selling shareholder will take home the proceeds from the offering after paying an estimated SAR 28 mn in fees associated with the transaction.<\/p>\n

ADVISORS- <\/strong>Our friends at EFG Hermes KSA<\/strong> and Saudi Fransi Capital (SFC)<\/strong> are quarterbacking the transaction as financial advisor, bookrunner, and underwriter. SFC is also separately acting as the lead manager. SFC<\/strong> and Riyad Bank<\/strong> are receiving agents. Latham & Watkins<\/strong> is acting as legal counsel, while PwC <\/strong>is financial due diligence advisor, KPMG<\/strong> are serving as auditors, and Arthur D. Little<\/strong> as market consultant.<\/p>\n","protected":false},"excerpt":{"rendered":"

Miahona\u2019s sole owner Vision Invest is selling a 30% stake on Tadawul\u2019s main market in a secondary share sale<\/p>\n","protected":false},"author":1,"featured_media":84466,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[378],"tags":[11,377,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseclimate","tag-ipo-watch","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"ec65a8f9-8507-447b-a845-0728a255aaee","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1922.jpg","photo_position":"above","homepage_title":"","full_issue_title":"KSA\u2019s Miahona closes retail portion of IPO on Tadawul\u2019s main market","related_issue":[84460],"teaser":"Miahona\u2019s sole owner Vision Invest is selling a 30% stake on Tadawul\u2019s main market in a secondary share sale","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.3663da97-5423-43bc-8e57-91ba6120cea5.mp3"},"yoast_head":"\nKSA\u2019s Miahona closes retail portion of IPO on Tadawul\u2019s main market - 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