Rawabi Marketing Int’l issues prospectus for Nomu IPO: Riyadh-based chemicals company Rawabi Marketing International (RMI) is offering 1 mn new shares — representing 6.45% of its post-IPO capital — on Tadawul’s parallel market Nomu to fund growth plans, according to a prospectus (pdf). The primary offering comes a little over four months after the company secured regulatory approval for the move.

The timeline: The subscription period is due to kick off on Wednesday, 27 August and wrap up on Wednesday, 3 September. Qualified investors will be able to book up to 775k shares each with the minimum limit set at 10. Final allocations will be made on Sunday, 7 September.

RMI’s substantial shareholders will not receive any proceeds. They will see their holding diluted to a combined 58.6% stake down from 62.6%, with a 12-months lockup period from the first day of trading.

About the company: Founded in Riyadh in 1994, Rawabi is a supplier of commodity and specialty chemicals, and has clients across 25 countries, according to its website. The company’s bottomline shed 41% y-o-y to SAR 11 mn in 9M 2024, despite its topline growing 7.8% y-o-y to SAR 438.5 mn over the same period.

ADVISORS- Watheeq Capital quarterbacked the transaction as its financial advisor, with Derayah financial acting as the lead manager. Receiving agents include Alinma Investment, Al Rajhi Capital, SNB Capital

ALSO IN THE NOMU PIPELINE- The National Signboards Company for Industry (SignWorld) was the latest to issue a prospectus for its Nomu IPO. The Capital Market Authority has most recently cleared Nayomi brand operator Jamjoom Fashion Trading, online supplement store Alwazn Almithaly for Trading, along with two new equity funds to list on the parallel market. Qudra for Communications and IT, medical equipment supplier Wajd, property developer Hammad Mohammed Bin Saedan Real Estate, and Afaq Al Arabiya for Transportation and Storage, had also lined up the regulator’s approval earlier to IPO on Nomu.

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