{"id":87630,"date":"2024-07-08T00:00:00","date_gmt":"2024-07-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/08\/al-hokail-academy-to-price-nomu-ipo-at-sar-118-125-per-share\/"},"modified":"2024-07-08T00:00:00","modified_gmt":"2024-07-08T00:00:00","slug":"al-hokail-academy-to-price-nomu-ipo-at-sar-118-125-per-share","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/08\/al-hokail-academy-to-price-nomu-ipo-at-sar-118-125-per-share\/","title":{"rendered":"Al Hokail Academy to price Nomu IPO at SAR 118-125 per share"},"content":{"rendered":"

Al Hokail Academy Specialized Digital Polyclinics will price its Nomu IPO at SAR 118-125 <\/strong>per share<\/strong>, according to a filing to Tadawul<\/a>. The company is taking a 29% stake<\/a> to Tadawul\u2019s parallel market in an offering a secondary sale open to both retail and institutional investors. At the top of the range, the pricing could see Al Hokail Academy raise up to SAR 250 mn, giving it a market cap of SAR 862.5 mn on the first day of trading.<\/p>\n

The s<\/strong>ubscription period <\/strong>kicked off yesterday<\/strong>, according to the timeline outlined in the <\/span>prospectus (pdf)<\/a>. Bankers will be taking orders from institutional investors until Wednesday, 10 July, after which the final price will be announced.<\/span><\/p>\n

What\u2019s next?<\/strong> The book-building process for retail investors will run from Wednesday, 17 July, to Sunday, 21 July, while the final allocation of shares is slated for Tuesday, 21 July.<\/p>\n

The seller: <\/strong>Amjad Abdul Aziz Ibrahim Al Hokail, the company\u2019s only substantial shareholder, is selling-down his position to 65% from 93.06%. He will be barred from selling shares for a period of 12 months from the first day of trading. Al Hokail will take home the proceeds from the transaction.<\/p>\n

A snapshot of FY 2023:<\/strong> Al Hokail\u2019s net income was down 18.5% y-o-y to SAR 34 mn in FY 2023 while revenues were up 12.1% y-o-y during the period to SAR 248 mn.<\/p>\n

ADVISORS- Emirates NBD Capital KSA<\/strong> is quarterbacking the transaction as financial advisor and lead Manager. Khaligyoun Legal Advisors is acting as the legal advisor, while PwC acts as auditor and Reflexion as business consultant. Receiving agents include Riyad Capital, BSF Capital, Alinma Investment, Al Jazira Capital, SNB Capital, ANB Capital, Al Rajhi Capital, Derayah Financial Company, Albilad Capital, SAB Invest, Alistithmar Capital and Alkhabeer Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

IPO proceeds will be divided between the selling shareholders on a pro rata basis after deducting offering expenses<\/p>\n","protected":false},"author":1,"featured_media":87631,"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":[2251,10,29,369,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-hokail-academy-specialized-digital-polyclinics","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"943562fd-1aa0-457e-bf72-bb131cded9ff","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":"Al Hokail Academy Specialized Digital Polyclinics to price Nomu IPO at SAR 118-125 per share","related_issue":[87619],"teaser":"IPO proceeds will be divided between the selling shareholders on a pro rata basis after deducting offering expenses","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.475a8ac6-3646-45eb-97be-f5ed9f1b69b8.mp3"},"yoast_head":"\nAl Hokail Academy to price Nomu IPO at SAR 118-125 per share - 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