Alwazn Almithaly kicks off Nomu IPO: Riyadh-based supplements retailer Alwazn Almithaly is offering 451.5k shares, good for a 15% stake, on Tadawul’s parallel market Nomu, according to its prospectus (pdf). The move comes five months after the firm secured regulatory approval.

The timeline: Books open on 3 December and run until 9 December, during which qualified investors will be able to subscribe for up to 150.49k shares each, with a minimum order size of 10 shares. Final allocations will be out on 14 December, with refunds, if any, issued on 15 December.

Who’s selling? The secondary sale will see Bloom Foods Investment, one of the company’s two shareholders, paring down its exposure to 10% from its current 25% and pocketing net IPO proceeds, subject to a 12-month lockup period from the first day of trading. Meanwhile, Alwazn Almithaly Holding Company will retain its full 75% stake.

Talking financials: Alwazn Almithaly’s net income climbed 15.2% y-o-y to SAR 19.3 mn last year, while its revenue rose 4.4% to SAR 197.2 mn. The company announced SAR 9.65 mn in dividends for 2024, equal to a 50% payout ratio.

About the company: Alwazn Almithaly is a local retailer and wholesaler of health foods and nutritional supplements, operating exclusively inside the Kingdom with 150 branches. The company imports and sells a range of healthy and specialty foods, vitamins and minerals, sports supplements, personal-care items, and fitness equipment, and it markets its products both through physical outlets and a licensed online store.

ADVISORS- Alkhair Capital is quarterbacking the transaction as the lead manager and financial advisor, with ZH Partners providing counsel. Receiving agents include our friends at EFG Hermes alongside SNB Capital, Yaqeen Capital, ANB Capital, Alkhabeer Capital, Sab Invest, Alinma Capital, Derayah Financial, Alistithmar Capital, Al Jazira Capital, Riyad Capital, BSF Capital, Albilad Capital, Sahm, GIB Capital, Alrajhi Capital, Awaed, and Musharaka.

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