Theeb Rent a Car issues prospectus to float 12.90 mln shares on Tadawul

Theeb Rent a Car Company issued a prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

Theeb will float 12.90 million shares, or 30% of its share capital.

The IPO targets two tranches:

Participating parties:

The tranche comprises all categories of investors entitled to participate in the book-building process.

A total of 12.90 million shares or 100% of the offering size will be allocated to the participating parties, subject to a scale-back to 90% or 11.61 million shares.

Retail investors

The tranche comprises Saudi nationals, including any Saudi female divorcees or widows with minor children from a non-Saudi father, and any non-Saudi natural person who is a resident in the Kingdom and any GCC national, in each case who has a bank account with one of the receiving entities.

Up to 10% of the offering size or 1.29 million shares will be allocated to this tranche.

The book-building process for the participating parties will run from March 7-15, 2021, while the one-day retail offering will open on March 21.

Company’s Profile
Market	Saudi Stock Exchange (Tadawul)
Company core activity	- Short-term rentals and the related services. - Long-term leases and the related services, client solutions. - Sales of the cars used by the company in both segments.
Capital	SAR 430 mln

IPO Summary
Issue percentage (%)	30%
Number of shares offered	12.90 mln
Qualified subscribers	- The participating categories which includes a group of qualified institutions, companies, foreign investors and Gulf investors with legal personality. -Retail Investors
IPO minimum limit for retail	10 shares
IPO minimum limit for participating categories	100,000 shares
IPO maximum limit for retail	250,000 shares
IPO maximum limit for participating categories	2.149 mln shares
Requests recording period for participating categories and book building process	From March 7 to 15, 2021
Retail IPO period (One day)	March 21, 2021
Final allotment	March 29, 2021
Surplus refunds	March 29, 2021

Major Shareholders
	Before IPO		After IPO
Shareholders	Number of shares (mln shares)	Stake %	Number of shares (mln shares)	Stake %
Hamoud Abdullah AlTheeb	14.15	32.90%	9.90	23.00%
Mohammed Ahmed Abdullah Al-Theeb	14.15	32.90%	9.90	23.00%
Growth Opportunities Company for Trading	12.90	30.00%	9.03	21.00%
Remaining shareholders	1.80	4.20%	1.27	3.00%
Public	--	--	12.90	30.00 %
Total	43.00	100 %	43.00	100 %

Additional Information
Financial advisor, lead manager, lead bookrunner and underwriter	Saudi Fransi Capital
Institutional book runner	EFG-Hermes KSA
Receiving banks	Banque Saudi Fransi, NCB, Riyad Bank

For More IPOs

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