{"id":96492,"date":"2025-04-29T00:00:00","date_gmt":"2025-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/29\/al-kuzama-to-kick-off-nomu-ipo-next-month\/"},"modified":"2025-04-29T00:00:00","modified_gmt":"2025-04-29T00:00:00","slug":"al-kuzama-to-kick-off-nomu-ipo-next-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/04\/29\/al-kuzama-to-kick-off-nomu-ipo-next-month\/","title":{"rendered":"Al Kuzama to kick off Nomu IPO next month"},"content":{"rendered":"

<\/strong>Al Kuzama is<\/strong>sues prospectus for Nomu IPO: <\/strong>High-end restaurant operator Al Kuzama<\/a><\/a>Trading<\/a> is floating some 422.4k new shares, representing 10.7% of its post-IPO capital, on Tadawul\u2019s parallel market Nomu next month, according to its prospectus (pdf)<\/a>. The primary share sale will be limited to qualified investors, with the proceeds earmarked to support the firm\u2019s growth plans.<\/p>\n

What\u2019s next? <\/strong>The subscription period is set to run from Sunday, 18 May to Thursday, 22 May, whereby qualified investors will be able to subscribe to a maximum of 197.1k shares each and a minimum of 10 shares. The final allocation is slated for Tuesday, 27 May.<\/p>\n

Use of proceeds: <\/strong>Al Kuzama will use the fresh funds to boost its working capital and expand across the Kingdom over the next three years. Around SAR 3 mn will be set aside to cover IPO-related expenses.<\/p>\n

Substantial shareholders will retain majority control<\/strong> but will not receive any proceeds from the IPO. The firm\u2019s three majority shareholders will see their ownership diluted to a 54.1% stake, down from 60.6%; their shares will be on lockup for 12 months from the first day of trading. <\/p>\n

About Al Kuzama: <\/strong>Founded in 2013, Al Kuzama operates a chain of luxury restaurants in Riyadh and Khobar, including Lavash, Beit Omar, Ovvi, Armin, and Karazah, according to its website<\/a>. The firm also provides catering services, warehousing, and food storage.<\/p>\n

A snapshot of its latest financials: <\/strong>Al Kuzama\u2019s net income grew roughly 23% y-o-y to SAR 34.1 mn last year. Total sales stood at SAR 298.4 mn in 2024, up 19.7% y-o-y. <\/p>\n

ADVISORS-<\/strong> Yaqeen Capital is quarterbacking the transaction as lead manager and financial advisors, with RSM as accountant. Receiving agents include Derayah Financial, Al Rajhi Capital, and SNB Capital, among others.<\/p>\n","protected":false},"excerpt":{"rendered":"

Proceeds from the primary share sale will be used to support the firm\u2019s growth<\/p>\n","protected":false},"author":1,"featured_media":96493,"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":[4207,10,29,369],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-al-kuzama","tag-enterpriseam-ksa","tag-ipo-watch","tag-nomu","wpautop","entry"],"acf":{"mongo_id":"c45c4dde-e3fc-4104-bd1c-80040109c32a","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/990.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Kuzama to kick off Nomu IPO next month","related_issue":[96485],"teaser":"Proceeds from the primary share sale will be used to support the firm\u2019s growth","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.5155dd10-e7f6-4f6e-9d5a-9fc3dda84fff.mp3"},"yoast_head":"\nAl Kuzama to kick off Nomu IPO next month - 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