{"id":86692,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/30\/horizon-educational-set-for-nomu-debut-on-sunday\/"},"modified":"2024-05-30T00:00:00","modified_gmt":"2024-05-30T00:00:00","slug":"horizon-educational-set-for-nomu-debut-on-sunday","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/05\/30\/horizon-educational-set-for-nomu-debut-on-sunday\/","title":{"rendered":"Horizon Educational set for Nomu debut on Sunday"},"content":{"rendered":"

Riyadh-based school operator Horizon Educational will ring the opening bell <\/strong>on<\/strong> Tadawul\u2019s parallel<\/strong> market <\/strong>Nomu on Sunday<\/strong> to mark the first day of trading on its shares, Tadawul said in a statement<\/a>. Horizon Education\u2019s offering was 6.8x oversubscribed as it priced its Nomu IPO<\/a> at the top of range at SAR 54 per share.<\/p>\n

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

What to expect on Sunday: <\/strong>Shares will be allowed to trade within a \u00b130% band in daily price fluctuation limits and a \u00b110% band in static price fluctuation limits.<\/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 market cap of SAR 135 mn on the first day of trading, according to our calculations.<\/p>\n

ADVISORS-<\/strong> Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager, while RSM 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 school operator is taking a 20% stake to Nomu<\/p>\n","protected":false},"author":1,"featured_media":86693,"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":[10,1963,29,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-horizon-educational","tag-ipo-watch","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"8ad4d8a4-585a-41ec-bcc2-4413eeb0c43a","order":"4","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 set for Nomu debut on Sunday","related_issue":[86685],"teaser":"The school operator is taking a 20% stake to Nomu","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.8a017831-3e2b-4f62-9af4-525787456bd1.mp3"},"yoast_head":"\nHorizon Educational set for Nomu debut on Sunday - 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