Pipes manufacturer International Unions for Trade Co. (IUTC) is taking a 13% stake (247k shares) to Tadawul’s parallel market Nomu, the firm said in a prospectus (pdf) for the offering. IUTC lined up CMA approval for the move last October.

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Use of proceeds: SAR 3 mn from the offering’s proceeds are earmarked for covering IPO-related expenses. Net proceeds will be allocated to the selling shareholder — Abdul Aziz Al Otaibi — while the company will not be allocated any of the transaction’s proceeds.

Post-IPO structure + lockup: Abdul Aziz Al Otaibi, the company’s sole substantial shareholder and selling shareholder, will see his ownership in the firm diluted from 99.2% to 86.2%. ِAl Otaibi will not be able to sell down his position in the company for a 12-month period beginning with the first day of trading.

Timeline: Qualified investors can book shares between Sunday, 2 February and Thursday, 6 February, with a minimum subscription limit of 10 shares and a maximum of 94,990 shares apiece. Final allocations are set for Tuesday, 11 February.

Advisors: Yaqeen Capital is the quarterbacking the transaction as financial advisor and lead manager. Receiving agents include Alinma Investment, Al Rajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, ANB Capital, Alistithmar Capital, Albilad Capital, AlJazira Capital, GIB Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, Derayah Financial.

IN OTHER NOMU IPO STORIES-

Riyadh-based dental care provider Basma Adeem Medical set an indicative price range of SAR 4-4.40 per share for its Nomu IPO, according to a filing to Tadawul from the offering’s financial advisor Yaqeen Capital. The dental care services company lined up CMA approval for a 20% stake offering — good for 4 mn shares — last October. At the top of the range, the transaction could see Basma raise up to SAR 17.6 mn in proceeds, giving it a market cap of SAR 88 mn at listing, according to EnterpriseAM calculations.

The offering in a nutshell: Some 4 mn new shares will be up for grabs during a five-day subscription for qualified investors beginning on Monday, 13 January, according to the offering’s prospectus (pdf). Investors can book up to 999.9k shares apiece, with minimum subscription set at 100 shares. The final allocation is slated for Wednesday, 22 January, while the first day of trading will be announced after squaring away regulatory and other requirements.

Use of proceeds + post-IPO structure: Net proceeds from the sale will go towards establishing a dental lab and new clinics as part of Basma Medical’s expansion plans, after setting aside SAR 2.4 mn to cover IPO-related expenses. The company’s four major shareholders will see their ownership diluted to a combined 70.29% stake down from 87.87%.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as lead manager and financial advisor, while RSM is auditor. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyad Capital, and others.

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