Real estate marketing company Hawyia Auctions priced its Nomu IPO at SAR 13 a pop, according to the prospectus (pdf). If fully subscribed, the transaction could see the selling shareholders rake in SAR 31.2 mn in proceeds, and it would give the company a market cap of SAR 260 mn at listing. Hawyia is taking a 12% stake (good for 2.4 mn shares) to market in a secondary offering, after lining up Capital Market Authority approval back in March.

What’s next? The subscription period will run between 26-29 May, during which qualified investors can each book a minimum of 10 shares and a maximum of c. 1 mn. The final allocation of shares is slated for Monday, 2 June.

Shareholders retain majority shares: The company’s three selling shareholders will retain a combined 88% stake in Hawyia post-IPO. Their shares will remain on lockup for 12 months from the first day of trading. Some SAR 3.6 mn will be deducted from the total proceeds to cover transaction-related costs, while the selling shareholders will rake in the balance.

A snapshot of its latest earnings: Hawyia’s bottom line rose more than 3x y-o-y to SAR 37.1 mn in 2023, while its top line jumped 87.6% to SAR 81.6 mn.

ADVISORS- Estidamah Capital is the financial advisor on the transaction, while Derayah is the lead manager. Alzoman, Alfahad & Alhajjaj is counsel. Receiving agents include Alinma Capital. Al Rajhi Capital, SNB Capital, BSF Capital, and Riyad Capital, among others.

Other Nomu listings to watch out for in 2025:

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