{"id":92677,"date":"2024-12-19T00:00:00","date_gmt":"2024-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/itmam-consulting-issues-prospectus-for-nomu-ipo\/"},"modified":"2024-12-19T00:00:00","modified_gmt":"2024-12-19T00:00:00","slug":"itmam-consulting-issues-prospectus-for-nomu-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/19\/itmam-consulting-issues-prospectus-for-nomu-ipo\/","title":{"rendered":"Itmam Consulting issues prospectus for Nomu IPO"},"content":{"rendered":"

Itmam<\/a><\/strong>Consulting<\/a><\/strong> is taking a 14.3% stake <\/strong>to Tadawul\u2019s<\/strong> parallel market<\/strong> Nomu<\/strong>, the firm said in its prospectus (pdf)<\/a> for the offering. Some 3 mn shares will be up for grabs, out of which 1 mn are newly-issued stocks. The Riyadh-based business consulting service lined up Capital Market Authority approval for the move back in October<\/a>. <\/p>\n

Qualified investors can subscribe to the IPO between 5-12 January.<\/strong> They can book up to 1 mn shares each with the minimum amount set at 100 shares. The final allocation is slated for Wednesday, 15 January.<\/p>\n

Net proceeds from the sale will be used to finance the company\u2019s working capital<\/strong> to support its expansion plans. Some SAR 3 mn from the proceeds will be earmarked to cover the offering\u2019s expenses.<\/p>\n

Post-IPO structure + lockup period:<\/strong> Itmam\u2019s seven major shareholders will see their ownership diluted to a combined 80.6%, down from their current 94%, and will be subject to a 12-month lock-up period from the first day of trading.<\/p>\n

Earnings snapshot: <\/strong>The company posted SAR 6.7 mn in net income for 1H 2024, up from SAR 4.1 mn in 1H 2023, according to its latest financial results in the prospectus. Meanwhile, revenues came in at SAR 27.7 mn in the first half of the year, down from 36.5 mn during the same period last year. <\/p>\n

About <\/strong>Itmam<\/strong>: <\/strong>Established in 2018 and headquartered in Riyadh, Itmam Consulting provides management consulting services operating in administrative restructuring, compliance evaluation, market research, business accelerators, upskilling and event management. Its services extend to sectors such as construction, manufacturing, IT, real estate, education, healthcare, and energy.<\/p>\n

ADVISORS- Yaqeen Capital <\/strong>is quarterbacking the transaction as lead manager and financial advisor, while RSM acts as legal accountant. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, and Riyadh Capital, among others. <\/p>\n","protected":false},"excerpt":{"rendered":"

Some 3 mn shares will be up for grabs<\/p>\n","protected":false},"author":1,"featured_media":92678,"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-92677","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":"8d91288d-1505-4dca-97a5-dd95ad36889e","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Itmam Consulting issues prospectus for Nomu IPO","related_issue":[92672],"teaser":"Some 3 mn shares will be up for grabs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.899fe40a-a4e1-4236-9948-9ae01dc77233.mp3"},"yoast_head":"\nItmam Consulting issues prospectus for Nomu IPO - 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