Axelerated Solutions priced its Nomu IPO at SAR 27 apiece

Axelerated Solutions priced its Nomu IPO at SAR 27 apiece, according to a disclosure toTadawul. This could see the company raise SAR 81 mn and give it a market cap of SAR 756 mn at listing, according to our calculations. The IT services firm is floating 10.7% of its post-IPO capital.

What’s next: Qualified investors will be able to put in their orders starting tomorrow and until Wednesday, 21 May. They can book up to 1.4 mn shares each, with the minimum limit set at 100 shares. The final allocation is slated for Monday, 26 May.

Use of proceeds: Some SAR 3.8 mn of the proceeds will be used to cover IPO-related expenses, while the remainder is earmarked to support the firm’s expansion across the Kingdom.

ADVISORS- Value Capital is quarterbacking the transaction as its lead manager and financial advisor, with PKF acting as accountant. Receiving agents include SNB Capital, Al Rajhi Capital, BSF Capital, and Alinma Investment, among others.

OTHER NOMU IPOs TO WATCH FOR IN 2025:

• Asas Makeen for Development and Real Estate Investment priced its Nomu IPO at SAR 80 apiece;
• Hawiya Auctions priced its Nomu IPO of a 12% stake at SAR 13 per share;
• Al Khaldi Logistics, Multi-sector operator Anmat, restaurant operator Al Kuzama Trading, and school operator Dome International were the latest to issue prospectuses for the move;
• 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.