Heavy equipment manufacturer Alshehili is guiding on a price range of SAR 76-80 per share for its Nomu IPO, according to a filing to the exchange. The company is taking a 20% stake to market in an offering that could see it raise up to SAR 40 mn in proceeds, according to EnterpriseAM Saudi calculations. At the top of the range, the transaction would give Alshehili a market cap of SAR 200 mn at listing.

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Qualified investors will be able to place orders starting today until Monday, 13 January, with a minimum subscription limit of 10 shares and a maximum of 125k shares each. Final allocations are set for Thursday, 16 January.

REFRESHER- Net proceeds from the sale will go towards funding Alshehili’s expansion and marketing efforts, as well as supporting the company’s working capital, including automating cooler box production and equipment procurement. The company’s sole substantial shareholder — Hala Fahd Nasser Alshehili — will see her ownership diluted to 58.7% from 73.4%.

ADVISORS- Arbah Capital is quarterbacking the transaction as lead manager, while Forsa Capital is acting as financial advisor. Receiving agents include Alinma Investment, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Alistithmar Capital, Albilad Capital, AlJazira Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, Derayah Financial.

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