{"id":93860,"date":"2025-01-29T00:00:00","date_gmt":"2025-01-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/29\/hkc-ceramics-gears-up-for-an-ipo-on-tadawuls-parallel-market-nomu\/"},"modified":"2025-01-29T00:00:00","modified_gmt":"2025-01-29T00:00:00","slug":"hkc-ceramics-gears-up-for-an-ipo-on-tadawuls-parallel-market-nomu","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/29\/hkc-ceramics-gears-up-for-an-ipo-on-tadawuls-parallel-market-nomu\/","title":{"rendered":"HKC Ceramics gears up for an IPO on Tadawul\u2019s parallel market Nomu"},"content":{"rendered":"

<\/strong>Local marble and porcelain supplier <\/strong>HKC Cerami<\/a><\/strong>cs<\/a><\/strong>, better known as Hedab Al Khaleej, is <\/strong>selling a 10.67% stake on <\/strong>Tadawul\u2019s<\/strong> parallel market Nomu<\/strong>, it said in a prospectus (pdf)<\/a>. Some 800k newly-issued shares will be up for grabs in a primary offering limited to qualified institutional investors (QFIs).<\/p>\n

Funding growth and settling old bills: <\/strong>Net proceeds from the sale will be used to finance the expansion of production facilities to meet growing domestic and regional demand. The fresh funds will also be channeled towards investing in new technologies, expanding product lines and reducing existing liabilities.<\/p>\n

What\u2019s next? <\/strong>A five-day subscription period will kick off on Sunday, 16 February, during which QFIs will be able to book up to 375k shares each, with the minimum limit set at 10 shares per investor. The final share allocation is slated for Tuesday, 25 February.<\/p>\n

Post-IPO ownership structure + lockup period: <\/strong>The company\u2019s three substantial shareholders will see their ownership diluted to a combined 68.57% stake post-capital hike and IPO down from 76.76%. They will not be able to execute any transaction on their shares for a period of 12 months from the first day of trading. <\/p>\n

A snapshot of FY 2023: <\/strong>Hedab Al Khaleej\u2019s net income came in at SAR 27 mn in FY 2023, up from SAR 20.7 mn the previous year. Meanwhile, its sales revenue stood at SAR 499 mn over the same period, up from SAR 468.8 mn in 2022. <\/p>\n

ADVISORS- <\/strong>Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager, while PKF Al Bassam & Co. serves as legal accountant. Receiving agents <\/strong>include Derayah Financial, Al Rajhi Capital, SNB Capital, Alinma Investment, Albilad Capital, ANB Capital, BSF Capital, Riyad Capital, SAB invest, AlJazira Capital, Alistithmar Capital, AlKhabeer Capital, GIB Capital, and Sahm Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

A five-day subscription period will kick off on Sunday, 16 February<\/p>\n","protected":false},"author":1,"featured_media":93861,"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":[2419,10,3759,29,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-hkc-ceramics","tag-ipo-watch","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"1d38df11-06c3-49ce-830b-c329b80c8c14","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1196.jpg","photo_position":"above","homepage_title":"","full_issue_title":"HKC Ceramics gears up for an IPO on Tadawul\u2019s parallel market Nomu","related_issue":[93846],"teaser":"A five-day subscription period will kick off on Sunday, 16 February","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.6509cc10-9609-4d3d-b144-1c6bbcca114e.mp3"},"yoast_head":"\nHKC Ceramics gears up for an IPO on Tadawul\u2019s parallel market Nomu - 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