Logo of Neft Alsharq Chemical Industries Co.
Neft Alsharq Chemical Industries Co. published the prospectus for offering 5 million shares on the Nomu-Parallel Market, according to a statement to Tadawul.
In March, the Capital Market Authority (CMA) approved the company's application to float its shares on Nomu.
The offered shares represent 20% of its post-increase capital of SAR 25 million (divided into 25 million shares) at SAR 1 per share.
The share sale will run for eight working days from May 26 to June 2, 2024.
The share sale will be limited to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the Capital Market Authority.
The company's actual activity is the production, sale and export of gasoline and diesel engine oils, hydraulic oils, transmission oils of all types, base oils, industrial greases, engine cooling fluids, and other products.
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Company Profile |
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Company |
Neft Alsharq Chemical Industries Co. |
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Market |
Nomu Parallel Market |
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Core Activities |
Production of engines oils, greases and cooling fluids |
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Capital Pre-IPO |
SAR 20 mln |
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Capital After IPO |
SAR 25 mln |
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Share Par Value |
SAR 1/share |
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IPO Summary |
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Issue Percentage |
20% of post-increase capital (25% pre-increase capital) |
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Offered shares |
5 mln shares |
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IPO Minimum Limit |
100 shares |
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IPO Maximum Limit |
1.25 mln shares |
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Offer period |
From May 26 to June 2, 2024 |
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Final Allocation |
June 6, 2024 |
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Refund (if any) |
June 10, 2024 |
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Company Shareholders |
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Shareholders |
Before IPO |
Post-IPO |
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Number of Shares (mln shares) |
Ownership (%) |
Number of Shares (mln shares) |
Ownership (%) |
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Sabeel Al-Reyadah Co. Limited |
2.84 |
14.19% |
2.84 |
11.35% |
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Asset Management Co. Limited |
2.23 |
11.14% |
2.23 |
8.91% |
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Ibrahim Ali Ibrahim Al-Mohsen* |
2.00 |
10.00% |
2.00 |
8.00% |
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Abdulaziz Abdullah Mohammed Al-Rashid |
1.98 |
9.91% |
1.98 |
7.92% |
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Asaad Rumaih Othman Al-Rumaih |
1.50 |
7.50% |
1.50 |
6.00% |
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Other shareholders owning less than 5% (43 shareholders)** |
9.45 |
47.27% |
9.45 |
37.81% |
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The public (QFIs) |
-- |
-- |
5.00 |
20.00% |
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Total |
20.00 |
100% |
5.0 |
100% |
** There is indirect ownership by other shareholders who own less than 5%.
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Additional Information |
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Financial Advisor and Lead Manager |
Yaqeen Capital |
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Receiving Banks |
Al Rajhi Capital - Riyad Capital - ANB Capital - Derayah Financial - Saudi Fransi Capital - Albilad Capital - Aljazira Capital - SNB Capital - Alinma Investment - Al-Istithmar Capital |
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