{"id":96315,"date":"2025-04-23T00:00:00","date_gmt":"2025-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/balubaids-sec-wraps-up-nomu-offering\/"},"modified":"2025-04-23T00:00:00","modified_gmt":"2025-04-23T00:00:00","slug":"balubaids-sec-wraps-up-nomu-offering","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/23\/balubaids-sec-wraps-up-nomu-offering\/","title":{"rendered":"Balubaid\u2019s SEC wraps up Nomu offering"},"content":{"rendered":"

<\/strong>The<\/strong> Service<\/a><\/strong>Equipment Company<\/a><\/strong>\u2019s (SEC) Nomu offering was 1.5x covered<\/strong>, according to a<\/a>filing<\/a> to Tadawul. Final allocations were completed yesterday, with Yaqeen Capital now working with Tadawul to wrap up listing formalities and set a trading date. SEC is the automotive maintenance unit of Saudi conglomerate Balubaid Group<\/a>. <\/p>\n

About the offering: <\/strong>The Jeddah-based company is taking a 30% stake to market at SAR 84 a<\/a>piece<\/a> in a secondary share offering, where it is set to raise up to SAR 60.5 mn and boast a market cap of SAR 201.6 mn at listing. <\/p>\n

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

Final allocations were completed yesterday<\/p>\n","protected":false},"author":1,"featured_media":96316,"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":[10,29,4196],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-ipo-watch","tag-service-equipment-company","wpautop","entry"],"acf":{"mongo_id":"74c50f48-ae23-4c38-9477-eb4f793062f3","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/1476.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Balubaid\u2019s SEC wraps up Nomu offering","related_issue":[96301],"teaser":"Final allocations were completed yesterday","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.3bf8d797-f81c-433c-8e5f-b40b89ff3aec.mp3"},"yoast_head":"\nBalubaid\u2019s SEC wraps up Nomu offering - 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