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Lavenco Aluminum Systems, also known as Zahr Al Khuzama Aluminum, is offering 300k ordinary shares, representing 25% of its capital, on the Nomu Parallel Market, according to its prospectus (pdf). The issuance — equivalent to 20% of post-IPO capital — lined up the Capital Market Authority’s approval in June.
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The timeline: Qualified investors can subscribe for a minimum of 10 shares and a maximum of 74.99k shares during a five-working-day subscription window from 12 to 18 November. Final share allocation will be announced on 23 November, while any surplus refunds will follow two working days later.
Use of proceeds: Lavenco plans to direct the entire IPO proceeds — estimated at SAR 14 mn — toward financing its expansion and operational growth plans. The company plans to build a new SAR 5.1 mn aluminum systems factory in Dammam, spanning 8k sqm, and invest SAR 1.2 mn in aluminum production lines. Another SAR 4.5 mn will be allocated to working capital for aluminum operations, while SAR 755k is earmarked for iron production lines and SAR 2.5 mn for general working capital.
A glance at finances: The company’s net income grew 17.6% y-o-y to SAR 5.1 mn in 2024, while revenues rose 12% y-o-y to SAR 24.5 mn.
About the company: Established in 2016, the company began as a single-owner aluminum manufacturer before transitioning into a joint stock company. It specializes in curtain walls, doors, windows, louvers, and facade systems, catering primarily to private-sector construction and contracting clients across the Kingdom.
ADVISORS- The company tapped Amwal Financial as the financial advisor and Derayah Financial as the lead manager and bookrunner. Receiving agents include Alinma Investment, Alrajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Alistithmar Capital, Albilad Capital, Aljazira Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes, and Awaed Alosool Capital.
