Dkhoun eyes Nomu listing: Fragrance retailer Dkhoun National Trading is planning to put a 20% stake — good for 400k shares — up for grabs by qualified investors on Tadawul’s parallel market Nomu through a secondary share sale, according to the prospectus (pdf).

Where will the money go? The selling shareholders will receive all the proceeds from the offering after deducting SAR 1.35 mn to cover offering-related expenses.

Timeline + lockup: Qualified investors would be able to subscribe to a minimum of 10 shares and a maximum of 100k shares between 4-8 May, with the final allocation of the shares expected by no later than 12 May. Selling shareholders won’t be able to execute any transactions on their shares for a 12-month period starting from the first day of trading.

Dukhoun’s revenues rose 25% y-o-y to SAR 75.2 mn in 2024, and its net income increased 27% y-o-y to SAR 14.27 mn. The company did not distribute dividends during 2022 and 2023, or even 1H 2024, and no dividend distributions have been announced as of the date of this prospectus.

More on the company: Dkhoun currently operates 60 local branches, owns 16 registered brands, and recently established a wholly owned subsidiary in Qatar with a capital of QAR 150K. The company also owns a subsidiary named Nafaes Dukhoon for Perfumes.

ADVISORS- Dukhoun tapped Saudi Kuwait Finance House – Saudi Arabia to act as the financial advisor and lead manager for the transaction. Receiving agents include SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Alinma Investment, Riyad Capital, AlJazira Capital, Albilad Investment, Alistithmar Capital, AlArabi Investment, Alawwal Investment, Derayah Financial, Yaqeen Capital, Alkhabeer Capital, Sahm Capital, and GIB Capital.

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