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Al Khaldi Logistics is guiding on an indicative price range of SAR 44-47 apiece for its Nomu IPO, according to a disclosure toTadawul. Al Khaldi is taking a 7% stake to market in a secondary share sale where selling shareholders will rake in net proceeds. Some 1.1 mn shares will be up for grabs in an offering limited to qualified investors.
Proceeds + market cap: At the top of the range, the selling shareholders could rake in up to SAR 49.4 mn in proceeds, and it would give the company a market cap of SAR 705 mn at listing. The selling shareholders will take home the net proceeds from the sale after deducting SAR 1.26 mn to cover IPO-related expenses.
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.
ADVISORS- Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager. Baker Tilly is serving as accountant. Receiving agents include Alisthmar Capital, Alinma Capital, SNB Capital, Al Jazira Capital, Riyad Capital, ANB Capital, and Albilad Capital, among others.
About Al Khaldi: Established in 1972, the bonded transporter has a fleet of over 1.5k trucks and 3k trailers, providing nationwide and GCC-wide coverage, according to its website.
IN OTHER IPO NEWS-
Adeer Real Estate’s Nomu listing drew strong demand, with the IPO nearly 7x oversubscribed by qualified investors, according to a disclosure to Tadawul. The company priced its 20% stake at SAR 85 per share, raising SAR 85 mn in proceeds. The secondary share sale gives Adeer a market cap of SAR 425 mn at listing. Selling shareholders will not be able to execute orders on their shares for a 12-month period starting from the first day of trading.
ADVISORS– Musharaka Financial Company is quarterbacking the transaction as lead financial advisor and bookrunner, while Alsaleh, Alsahli & Partners Law Firm is providing counsel. Receiving agents include AlRajhi Capital, Derayah Financial, Alistithmar Capital, Albilad Capital, BSF Capital, Riyad Capital, SAB Invest, ANB Capital, Alinma Capital, AlJazira Capital, Yaqeen Capital, AlKhabeer Capital, Sahm Capital, GIB Capital, and SNB Capital.
