{"id":91927,"date":"2024-11-26T00:00:00","date_gmt":"2024-11-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/26\/arabica-star-sets-nomu-ipo-price-at-sar-64-apiece\/"},"modified":"2024-11-26T00:00:00","modified_gmt":"2024-11-26T00:00:00","slug":"arabica-star-sets-nomu-ipo-price-at-sar-64-apiece","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/26\/arabica-star-sets-nomu-ipo-price-at-sar-64-apiece\/","title":{"rendered":"Arabica Star sets Nomu IPO price at SAR 64 apiece"},"content":{"rendered":"

Arabica Star<\/a><\/strong> priced its Nomu IPO at SAR 64 a share<\/strong>, after its offering was 16.1x oversubscribed, lead advisor Yaqeen Capital said in a Tadawul filing<\/a>. The final pricing sees Arabica Star raising SAR 17.6 mn in proceeds, giving it a market cap of SAR 70.4 mn at listing, according to EnterpriseAM Saudi calculations.<\/p>\n

REFRESHER- <\/strong>The coffee shop and restaurant operator is taking a 25% stake<\/a> (representing 275k shares) to the Nomu parallel market, after it lined up Capital Market Authority approval in September<\/a>. Final allocation of shares concludes today. <\/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

Post-IPO structure:<\/strong> Hammoud Mohammed Saleh Al Hamoud will sell down his 99% stake to 79.9% and Qamasha Ibrahim Abdulaziz Al Hamid\u2019s ownership will be reduced to 0.08% from 0.1%.<\/p>\n

Use of proceeds: <\/strong>SAR 2.5 mn of the proceeds will go to covering IPO-related expenses. The rest of the proceeds will be channeled towards establishing a central kitchen and opening new branches.<\/p>\n

About Arabica Star: <\/strong>Founded in 2012 in Buraidah, Arabica Star operates coffee shops and restaurants. Its activities include dine-in restaurants, takeout services, food trucks, coffee shops, ice cream parlors, and fresh juice bars. The company manages seven sub-registers across Riyadh, Buraidah, Al Rass, and Unaizah.<\/p>\n

ADVISORS- <\/strong>Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager with RSM as bookrunner. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyad Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah Financial, BSF Capital, SAB Invest, Alkhabeer Capital, and Sahm Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

The offering was 16.1x oversubscribed<\/p>\n","protected":false},"author":1,"featured_media":91928,"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":[3324,2419,10,29,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-arabica-star","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"35281e9b-7c45-4268-831b-a20805b1dd3b","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2522.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Arabica Star sets Nomu IPO price at SAR 64 apiece","related_issue":[91915],"teaser":"The offering was 16.1x oversubscribed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.6b68eeba-823f-466c-90c4-a4d1288ef6ab.mp3"},"yoast_head":"\nArabica Star sets Nomu IPO price at SAR 64 apiece - 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