{"id":92415,"date":"2024-12-11T00:00:00","date_gmt":"2024-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/11\/balsm-alofoq-prices-nomu-ipo-at-sar-60-per-share\/"},"modified":"2024-12-11T00:00:00","modified_gmt":"2024-12-11T00:00:00","slug":"balsm-alofoq-prices-nomu-ipo-at-sar-60-per-share","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/11\/balsm-alofoq-prices-nomu-ipo-at-sar-60-per-share\/","title":{"rendered":"Balsm Alofoq prices Nomu IPO at SAR 60 per share"},"content":{"rendered":"

Balsm<\/strong> Alofoq Medical priced its Nomu IPO at SAR 60 per share<\/strong>, after its offering was nearly 17x covered, lead advisor Yaqeen Capital said in a Tadawul filing<\/a>. The final pricing sees the medical firm raising SAR 15 mn in proceeds, giving it a market cap of SAR 75 mn at listing, according to EnterpriseAM calculations. The Buraidah-based hospital operator took a 25% stake<\/a> to Tadawul's parallel market in a primary offering that was limited to qualified investors. <\/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 + lockup:<\/strong> The outfit\u2019s three major shareholders will see their ownership diluted from a combined 88.75% stake down to 71%. They will not be able to sell down their positions for a period of 12 months from the first day of trading.<\/p>\n

Use of proceeds: <\/strong>SAR 2.35 mn of the offering\u2019s proceeds will go towards covering IPO-related expenses. Net proceeds from the sale will be channeled towards funding the company\u2019s expansion plans \u2014 expected to cost SAR 24.9 mn \u2014 including the procurement of medical equipment and the development of warehouses. <\/p>\n

ADVISORS- <\/strong>Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, Al Jazira Capital, Riyad Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Saudi Fransi Capital, SAB Invest, Alkhabeer Capital, Sahm Capital, among others.<\/p>\n","protected":false},"excerpt":{"rendered":"

The offering was nearly 17x covered<\/p>\n","protected":false},"author":1,"featured_media":92416,"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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92415","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","wpautop","entry"],"acf":{"mongo_id":"973ea6e6-0e2a-4317-9275-79dc160a51d1","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Balsm Alofoq prices Nomu IPO at SAR 60 per share","related_issue":[92405],"teaser":"The offering was nearly 17x covered","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.2dfa6b08-b9a5-4e7b-b1cb-ca7583bccd60.mp3"},"yoast_head":"\nBalsm Alofoq prices Nomu IPO at SAR 60 per share - 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