Sahat Almajd — the brand operator behind Specialty Coffee Jadeel, Spark, Susam, and Hanoverian — priced its Nomu IPO at SAR 7.0 per share, according to a bourse disclosure. The final offer will see it raise SAR 30.6 mn in IPO proceeds earmarked for expansion, and implies a market cap of SAR 275.6 mn at listing, according to our calculations. Qualified investors will be able to book between 100 and 1.97 mn shares each during a five-day subscription period starting Sunday, 19 October.

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Background: The Riyadh-based F&B player is floating 4.38 mn new shares — good for 11.1% of its post-IPO capital — in a primary offering on Tadawul’s parallel market. Proceeds, excluding SAR 2 mn in IPO-related costs, will be used to fund Sahat Almajd’s growth plans and widen its operational assets by an estimated SAR 50 mn.

ADVISORS- The company tapped Value Capital as the sole financial advisor and lead manager of the transaction. Receiving agents include our friends at EFG Hermes, Alinma Capital, BSF Capital, AlRajhi Capital, Albilad Capital, Riyad Capital, SNB Capital, AlJazira Capital, Alistithmar Capital, SAB Invest, Yaqeen Capital, Alkhabeer Capital, GIB Capital, ANB Capital, Derayah Financial, Sahm Capital, Musharaka Capital, and Awaed Al Osool Capital.

ALSO IN THE NOMU PIPELINE- The Capital Market Authority (CMA) recently approved the Nomu listing of Khaled Dhafer & Brother’s Logistics Services Company, online supplement store Alwazn Almithaly for Trading, Qudra for Communications and IT, and Afaq Al Arabiya for Transportation and Storage.

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