{"id":90354,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/tamkeen-hr-is-taking-a-30-stake-to-tadawuls-main-market\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"tamkeen-hr-is-taking-a-30-stake-to-tadawuls-main-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/tamkeen-hr-is-taking-a-30-stake-to-tadawuls-main-market\/","title":{"rendered":"Tamkeen HR is taking a 30% stake to Tadawul\u2019s main market"},"content":{"rendered":"

Homegrown labor agency Tamkeen HR<\/strong> is taking a 30% stake <\/strong>to Tadawul\u2019s<\/strong> main market<\/strong> in a secondary share sale, it said in a prospectus (pdf)<\/a>. The company lined up Capital Market Authority approval for the move earlier this month<\/a>.<\/p>\n

Institutional investors will be able to subscribe to 100% of the offering<\/strong>, booking a maximum of around 1.3 mn shares and a minimum of 100k shares each. Meanwhile, retail investors may receive up to 20% of the shares on offer if there is sufficient demand. Each retail investor would be allowed to subscribe for a maximum of 250k shares, and a minimum of 10 shares.<\/p>\n

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Use of proceeds + lockup: <\/strong>Proceeds from the sale will be pocketed by selling shareholders on a pro-rata basis, after some SAR 25 mn are used to cover IPO-related expenses, according to the prospectus. The firm will not receive any of the offering\u2019s proceeds. Substantial shareholders will not be able to sell down their positions for a period of six months starting from the first day of trading.<\/p>\n

The timeline: <\/strong><\/p>\n