Al Ahsa-based Ratio Specialty wrapped up its SAR 50 mn IPO of a 25% stake on Tadawul’s parallel market Nomu, according to a filing to the exchange. The secondary offering was priced at SAR 10 apiece, and was 8.6x oversubscribed. The final price implies a market cap of SAR 200 mn at listing.

Use of proceeds: The brand operator of homegrown coffee chain Ratio will disburse net proceeds from the sale to the selling shareholders, after deducting some SAR 2.6 mn to cover IPO-related expenses.

REMEMBER- The IPO was primarily driven by the Derayah private equity fund divesting alarge portion of its stake.

ADVISORS- Derayah Financial is quarterbacking the transaction as the lead manager, while Amwal Capital is acting as financial advisor with RSM and Moore providing legal counsel. Receiving agents included 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, and Yaqeen Financial.

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