{"id":86553,"date":"2024-05-27T00:00:00","date_gmt":"2024-05-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/"},"modified":"2024-05-27T00:00:00","modified_gmt":"2024-05-27T00:00:00","slug":"horizon-educational-sets-final-nomu-ipo-pricing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/27\/horizon-educational-sets-final-nomu-ipo-pricing\/","title":{"rendered":"Horizon Educational sets final Nomu IPO pricing"},"content":{"rendered":"

Horizon Educational priced its Nomu IPO at the top of its indicative price <\/strong>range<\/strong>, setting the final price at SAR 54 per share, according to a filing to Tadawul<\/a>. The Riyadh-based school operator\u2019s offering was6.8x oversubscribed, it said in the filing. There is no publicly available information on when the company will ring the opening bell on the exchange.<\/p>\n

Background: <\/strong>The company is taking a 20% stake<\/a>to Tadawul\u2019s<\/a>parallel market<\/a> Nomu by issuing 500k new shares to finance its expansion plans, acquire new branches, and ramp up its campus capacities. <\/p>\n

Proceeds + market cap: <\/strong>The final price would allow the company to raise SAR 27 mn in IPO proceeds, and would give it a post-IPO market cap of SAR 135 mn, according to our calculations. Issuers on Nomu are required to have a minimum post-listing market cap of SAR 10 mn, while issuers on main market Tadawul must meet a minimum of SAR 300 mn post-listing market cap.<\/p>\n

ADVISORS- Yaqeen Capital<\/strong> is quarterbacking the transaction as financial advisor and lead manager, while RSM<\/strong> is providing counsel. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyadh Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah, and Saudi Fransi Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

The final price gives the company a post-IPO market cap of SAR 135 mn<\/p>\n","protected":false},"author":1,"featured_media":86554,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[2419,2497,10,1963,29,369,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-education","tag-enterpriseam-ksa","tag-horizon-educational","tag-ipo-watch","tag-nomu","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"9774de43-0016-4ca8-bc8a-4be4b53f5b22","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1386.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Horizon Educational wraps up its IPO book-building","related_issue":[86542],"teaser":"The final price gives the company a post-IPO market cap of SAR 135 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.66288d0c-dfd1-4a56-b00d-6f525ab15ed5.mp3"},"yoast_head":"\nHorizon Educational sets final Nomu IPO pricing - 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