Dome International for Investment priced its Nomu IPO at SAR 42 apiece, according to a disclosure to Tadawul. The IPO is expected to generate approximately SAR 35.7 mn, while the market cap is estimated to hit SAR 245.7 mn, according to EnterpriseAM calculations.

Proceeds + market cap:The Riyadh-based school operator is floating some 850k new shares — 14.53% of its post-IPO capital. Around SAR 3.2 mn will be allocated to cover the offering expenses, while the remainder will go toward Dome’s future projects and expansion, with no proceeds going to major shareholders.

Qualified investors can book a minimum of 10 shares and up to 292.5k shares each, starting tomorrow and until Monday, 26 May. The final allocation of shares will take place on Sunday, 1 June.

The five major shareholders will see their ownership diluted to a combined 73.9% stake post-IPO, down from 86.46%, subject to a 12-month lock-up period from the first day of trading. Khaled Abdulaziz Al Turki Contracting will remain the largest shareholder, owning some 34.9% of total shares post-IPO.

ADVISORS- Watheeq Capital is quarterbacking the transaction as financial advisor, with Derayah serving as lead manager and RSM as accountant. Receiving agents include SNB Capital, Riyad Capital, BSF Capital, and Al Jazira Capital, among others.

About Dome International: Founded in 2015, the school operator owns and runs two K-12 schools in Riyadh that offer both international and national curricula. The firm also specializes in non-residential construction, including hospitals and hotels.

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