{"id":86649,"date":"2024-05-29T00:00:00","date_gmt":"2024-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/29\/yaqeen-capital-closes-nomu-offering\/"},"modified":"2024-05-29T00:00:00","modified_gmt":"2024-05-29T00:00:00","slug":"yaqeen-capital-closes-nomu-offering","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/29\/yaqeen-capital-closes-nomu-offering\/","title":{"rendered":"Yaqeen Capital closes Nomu offering"},"content":{"rendered":"

Yaqeen Capital\u2019s IPO <\/strong>on parallel<\/strong> market Nomu was 105.07% covered<\/strong>, with the offering to qualified investors closing yesterday, its financial advisor Alinma Investment said in a disclosure to Tadawul<\/a>. The Riyadh-based advisor, brokerage house, and asset manager is selling a 20% stake<\/a> on Nomu. Yaqeen offered shares at SAR 40 apiece, valuing the company at SAR 600 mn, by our math.<\/p>\n

What\u2019s next:<\/strong> Tadawul will set a listing date on Nomu following the completion of necessary procedures, according to the disclosure. <\/p>\n

Use of proceeds:<\/strong> The selling shareholder, Falcom Holding Company, will take home all of the net proceeds from the transaction after covering SAR 5 mn in listing expenses.<\/p>\n

A look at post-listing ownership:<\/strong> The asset manager has two large, related shareholders \u2014 Falcom Holding and its 100% owned subsidiary, Falcom Yaqeen Investment Company. Falcom Holding will hold a 40% stake in Yaqeen Capital after the listing, down from 60%. Falcom owns other non-bank financial services companies. Substantial shareholders will not be able to execute any transactions on their shares for 12 months starting from the first day of trading.<\/p>\n

SOUND SMART- <\/strong>Yaqeen is listing on Nomu \u2014 the parallel market on which it is a top advisor to other companies filing to go public.<\/p>\n

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

Yaqeen is a top advisor to other companies filing to go public on Nomu<\/p>\n","protected":false},"author":1,"featured_media":86650,"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":[371,10,29,369,655],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-alinma-investment","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-yaqeen-capital","wpautop","entry"],"acf":{"mongo_id":"92cb5ccf-1f57-4123-912d-136afd0c5f35","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2354.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Yaqeen Capital\u2019s Nomu offering closes with 105.07% coverage","related_issue":[86636],"teaser":"Yaqeen is a top advisor to other companies filing to go public on Nomu","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.1025b49c-a6c7-4343-97c8-02a8735b17a4.mp3"},"yoast_head":"\nYaqeen Capital closes Nomu offering - 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