Al Khaldi gears up to float a 7% stake on Nomu

Al Khaldi issues prospectus for Nomu IPO: Al Khaldi Logistics is taking a 7% stake to Tadawul’s parallel market Nomu in a secondary share sale whereby selling shareholders will rake in net proceeds, according to the prospectus (pdf). Some 1.1 mn shares will be up for grabs in an offering limited to qualified investors. The Khobar-based transportation company lined up Capital Market Authority approval for the move back in December.

What’s next? The subscription period will run from Tuesday, 27 May, to Sunday 1 June, during which qualified investors can book up to 750k shares, and no less than 10 shares each. The final allocation of shares is slated for Tuesday, 3 June.

Post-IPO structure + lockup: The selling shareholder is selling down their position to a 23% stake, down from their current 30% holding. Their shares will be on lockup for 12 months from the first day of trading.

Use of proceeds: The selling shareholders will take home the net proceeds from the sale after deducting SAR 1.26 mn to cover IPO-related expenses. The company will not receive any of the funds raised from going public.

Earnings snapshot: Al Khaldi Logistics bottom line grew 36% y-o-y to SAR 57.8 mn in 2023, while its topline inched up roughly 2.8% to SAR 297.7 mn.

About Al Khaldi Logistics: Founded in 2008, Al Khaldi Logistics offers supply chain solutions including freight forwarding, warehousing, distribution, and customs clearance.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager. Baker Tilly is the legal accountant. Receiving agents include Alisthmar Capital, Alinma Capital, SNB Capital, Al Jazira Capital, Riyad Capital, ANB Capital, and Albilad Capital, among others.

Other Nomu listings to watch out for in 2025:

• Last week, Hawiya Auctions priced its Nomu IPO of a 12% stake at SAR 13 per share. The real estate marketing company stands to rake in SAR 31.2 mn in proceeds.
• Multi-sector operator Anmat, real estate investment firm Asas Makeen, IT company Axelerated Solutions, restaurant operator Al Kuzama Trading, and school operator Dome International were the latest to issue prospectuses for the move.
• Meanwhile, Qudra for Communications and IT, the National Signage Industrial Company, Naf for Feed Industry, medical equipment supplier Wajd, and property developer Hammad Mohammed Bin Saedan Real Estate were given the CMA’s all-clear to list on the parallel market.