{"id":90454,"date":"2024-10-13T00:00:00","date_gmt":"2024-10-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/"},"modified":"2024-10-13T00:00:00","modified_gmt":"2024-10-13T00:00:00","slug":"al-fakhera-to-ipo-20-stake-on-nomu","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/","title":{"rendered":"Al Fakhera to IPO 20% stake on Nomu"},"content":{"rendered":"

Saudi thobe<\/strong>-maker and clothes retailer Al Fakhera Men\u2019s Tailoring is selling<\/strong> a 20% stake on Tadawul\u2019s <\/strong>parallel market Nomu<\/strong>, it said in a recently published prospectus (pdf)<\/a>. The company is issuing 6 mn new shares \u2014 good for a 20% stake \u2014 and putting them up for grabs after lining up Capital Market Authority approval for the move back in June<\/a>. <\/p>\n

Al Fakhera earmarked the proceeds to buy new assets and finance its working capital as<\/strong> part of its growth plans<\/strong>, according to the prospectus. Net proceeds from the sale will go towards shoring up the company\u2019s capital after covering costs related to the offering, with no part allocated to shareholders. <\/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

The IPO \u2014 which will run from Sunday, 3 November to Monday, 11 November \u2014 will be<\/strong> limited to qualified investors.<\/strong> They will be able to book up to 1.8 mn shares each, with the lower limit set at 100 shares. The final allocation is slated for Thursday, 14 November and excess funds will be refunded by Monday, 18 November. <\/p>\n

Post-IPO structure + lockup:<\/strong> The company\u2019s substantial shareholders, Suleiman Hammad Al Yahya and the Sulaiman Al Hamad Al Yahya Islamic Charitable Endowment, will see their combined ownership diluted from a 95.0% stake to 79.2% post-IPO. They will not be able to sell down their positions for a 12-month period from the first day of trading. Minor shareholders will see their positions reduced on a pro rata basis.<\/p>\n

Snapshot of 1H 2024 earnings: <\/strong>Al Fakher logged SAR 8.5 mn in net income during the first half of the year \u2014 down 33.2% y-o-y on the back of higher selling and marketing expenses, according to its unaudited financial results in the prospectus. Meanwhile, the company reported a 6.6% y-o-y increase in sales to SAR 54.5 mn in 1H. <\/p>\n

About Al Fakhera:<\/strong> Founded in 1976, Al Fakhera operates over 100 branches across the Kingdom, according to its LinkedIn profile<\/a>.The retailer specializes in the design and crafting of the traditional Saudi thobe, offering tailoring services catered to men of all ages. It also owns and runs the largest detailing factory in the region. <\/p>\n

ADVISORS-<\/strong> Yaqeen Capital is quarterbacking the transaction as financial advisor, lead manager and underwriter, with Monsfoon providing legal counsel to the issuer and RSM stepping in as auditor. Receiving agents include Yaqeen Capital, Al Rajhi Capital, AlBilad Capital, Riyadh Capital and Al Ahli Capital, Istithmar Capital and Alinma Investment, among others. <\/p>\n","protected":false},"excerpt":{"rendered":"

The proceeds of the sale will be used to buy new assets<\/p>\n","protected":false},"author":1,"featured_media":90455,"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":[2419,10,29,369,2452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"2a978fa2-e0ce-46f7-bf68-8d43951d3736","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Fakhera to debut a 20% stake on Nomu","related_issue":[90441],"teaser":"The proceeds of the sale will be used to buy new assets","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.ecb02e4e-c062-45a3-a7df-ba0b9212115a.mp3"},"yoast_head":"\nAl Fakhera to IPO 20% stake on Nomu - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Al Fakhera to IPO 20% stake on Nomu\" \/>\n<meta property=\"og:description\" content=\"The proceeds of the sale will be used to buy new assets\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-13T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Al Fakhera to IPO 20% stake on Nomu\",\"datePublished\":\"2024-10-13T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\"},\"wordCount\":411,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Capital Markets\",\"EnterpriseAM KSA\",\"IPO watch\",\"Nomu\",\"Tadawul\"],\"articleSection\":[\"IPO WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\",\"name\":\"Al Fakhera to IPO 20% stake on Nomu - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-10-13T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Al Fakhera to IPO 20% stake on Nomu\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Al Fakhera to IPO 20% stake on Nomu - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/","og_locale":"en_US","og_type":"article","og_title":"Al Fakhera to IPO 20% stake on Nomu","og_description":"The proceeds of the sale will be used to buy new assets","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/","og_site_name":"KSA","article_published_time":"2024-10-13T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Al Fakhera to IPO 20% stake on Nomu","datePublished":"2024-10-13T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/"},"wordCount":411,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1","keywords":["Capital Markets","EnterpriseAM KSA","IPO watch","Nomu","Tadawul"],"articleSection":["IPO WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/","name":"Al Fakhera to IPO 20% stake on Nomu - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1","datePublished":"2024-10-13T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/13\/al-fakhera-to-ipo-20-stake-on-nomu\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Al Fakhera to IPO 20% stake on Nomu"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2412.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/90454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=90454"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/90454\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/90441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/90455"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=90454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=90454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=90454"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=90454"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=90454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}