Local contractor Multi Business Group (MBG) is guiding on a price range of SAR 13-15 per share for its offering of a 20% stake on Tadawul’s parallel market Nomu, the transaction’s financial advisor Amwal Financial said in a disclosure to Tadawul.

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Proceeds + market cap: At the top of the range, MBG’s IPO would raise SAR 45 mn in proceeds, and give it a market cap of SAR 225 mn at listing, according to EnterpriseAM Saudi calculations. After deducting SAR 2.8 mn for offering-related expenses, the remaining proceeds will go to stocking up on retail inventory for building materials, and shoring up the company’s working capital.

Ownership + lock-up: The company’s majority shareholder Adel Abdullah Suleiman Al Basri will see his direct and indirect ownership diluted from a 97.5% stake to 78% at listing. He will not be able to sell down their positions for a 12-month period from the first day of trading. Minor shareholders will see their positions reduced on a pro rata basis.

What’s next? Qualified investors can book a minimum of 10 shares and a maximum of 750k apiece between Tuesday, 12 November and Monday, 18 November. Final allocations are set for Thursday 21 November, while any available refunds will be processed by Monday, 25 November.

ADVISORS- Amwal Financial is quarterbacking the transaction as financial advisor, with AlMaghthawi & Partners providing counsel. Derayah is the lead manager. Receiving agents include Alinma Investment, AlRajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital and Alistithmar Capital, among others.

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