{"id":90452,"date":"2024-10-13T00:00:00","date_gmt":"2024-10-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/mufeed-looks-to-debut-a-10-stake-on-nomu\/"},"modified":"2024-10-13T00:00:00","modified_gmt":"2024-10-13T00:00:00","slug":"mufeed-looks-to-debut-a-10-stake-on-nomu","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/mufeed-looks-to-debut-a-10-stake-on-nomu\/","title":{"rendered":"Mufeed looks to debut a 10% stake on Nomu"},"content":{"rendered":"

Production and event planning company <\/strong>Mufeed<\/a><\/strong> is selling a 10% stake <\/strong>(600k shares) on<\/strong> Tadawul\u2019s parallel market Nomu<\/a><\/strong>,<\/strong> according to a prospectus (pdf)<\/a>. <\/p>\n

Use of proceeds:<\/strong> Some SAR 2.7 mn of the proceeds will be allocated to cover costs related to the offering, while the remaining amount is earmarked to hike the company\u2019s capital to SAR 6.6 mn, up from the current 6 mn. This is in addition to financing some of Mufeed\u2019s expansion plans. None of the proceeds will be distributed to shareholders.<\/p>\n

Lock up period: <\/strong>Substantial shareholders will be prohibited from executing any orders on their shares for 12 months after trading begins. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Qualified investors can subscribe to 100% of the offering starting Sunday, 3 November, <\/strong>until Monday, 11 November.<\/strong> Each investor can subscribe to a minimum of 10 shares, and a max of 323k each. The final allocation of shares is slated for Thursday, 14 November, while refunds (if any) will take place on Monday, 18 November 2024.<\/p>\n

Mufeed\u2019s latest earnings:<\/strong> The company\u2019s bottom line rose 74% y-o-y to SAR 58.3 mn in 2023, and revenues increased 67% y-o-y SAR 179 mn.<\/p>\n

Founded in 2009, Mufeed operates five specialized subsidiaries <\/strong>\u2014 Evex, I-Focus, Innov8, White Light, and SCurve \u2014 offering comprehensive event management and organization services. Their expertise spans documentation, photography, TV production, broadcasting, and marketing campaigns. Additionally, they manage ticketing, exhibitions, and conferences.<\/p>\n

ADVISORS-<\/strong> Value Capital is the lead manager, financial advisor, bookrunner, and underwriter on the transaction, while El Ayouty & Partners (Moore) is acting as auditor. Receiving agents include SNB Capital, Al Rajhi Capital, BSF Capital, Alinma Investment, Riyadh Capital, Al Jazira Capital, and Alistithmar Capital, among others.<\/p>\n","protected":false},"excerpt":{"rendered":"

IPO proceeds will be used to finance the company\u2019s expansion plans + hike its capital<\/p>\n","protected":false},"author":1,"featured_media":90453,"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":[10,29,3246,369,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-ipo-watch","tag-mufeed","tag-nomu","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"25474fc9-b2b8-4b41-b23e-cde8b4e62443","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/917.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mufeed plans to debut a 10% stake on Tadawul\u2019s parallel market Nomu","related_issue":[90441],"teaser":"IPO proceeds will be used to finance the company\u2019s expansion plans + hike its capital","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.ecb02e4e-c062-45a3-a7df-ba0b9212115a.mp3"},"yoast_head":"\nMufeed looks to debut a 10% stake on Nomu - 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