Marketing Home Group set the final price for its IPO at SAR 85 per share, pricing at the top of the marketed range, after the institutional offering was nearly 10x oversubscribed, according to a bourse disclosure. At this price, the selling shareholders are set to rake in SAR 408 mn in total proceeds from the secondary offering, giving the company an implied market cap of SAR 1.36 bn at listing, according to our math.

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IN CONTEXT- The company is taking a 30% stake — good for 4.8 mn shares — to market as the local IPO market remains busy despite global volatility, with recent offerings drawing solid demand. Marketing Home Group will join peers in the home and lifestyle segment already listed on Tadawul, tapping into a sector that benefits from strong household consumption trends.

What’s next? The subscription window for individual investors opens on Tuesday, 19 August and runs through Wednesday, 20 August. Some 960k ordinary shares — or 20% of the total on offer — are earmarked for the retail tranche.

ADVISORS- Alinma Capital is quarterbacking the transaction as the financial advisor, lead manager, bookrunner, and underwriter, with Stat Law Firm providing counsel. PwC Public Accountants is acting as the financial due diligence advisor, while Euromonitor International is serving as the market consultant.

Receiving agents include our friends at EFG Hermes KSA, Alrajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, AlBilad Investment, AlJazira Capital, Derayah Financial, ANB Capital, Yaqeen Capital, and Al Khabeer Capital, among others.

ALSO IN THE PIPELINE-

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