Nomu: Qualified investors begin subscription to 500,000 shares of International Human

Logo of International Human Resources Co.

Qualified investors will start today, July 31, subscribing to 500,000 shares, or 20% of post-initial capital offering (IPO) capital (25% of pre-IPO capital) of International Human Resources Co., which will be listed on the Nomu-Parallel Market. The price range for the offering was set between SAR 31 and SAR 34 per share.

The subscription period will run for three days until Aug. 2.

This IPO on Nomu is the ninth since the year-beginning after the listing of Gas Arabian Services Co. (Jan. 23), Raoom Trading Co. (Jan. 30), Al-Jouf Mineral Water Bottling Co. (Feb. 6), Arabian International Healthcare Holding Co. (Feb. 15), Arabian Food & Dairy Factories Co. (May 11), Ladun Investment Co. and Amwaj International Co. (May 22) and Saudi Networkers Services (July 24).

The Capital Market Authority (CMA) approved, on June 15, the application received from International Human Resources to register and list its shares on Nomu.

The offering will be confined to qualified investors, including the capital market institutions authorized to act on their own account; clients of a licensed capital market institution; the Saudi government, any governmental body, any international entity approved by CMA or the Saudi market, or any other financial market recognized by CMA or the Securities Depository Center (Edaa); companies that are owned by the government, directly or through private portfolio manager; companies and funds established in the GCC countries; investment funds and the natural persons allowed to open investment accounts in the Kingdom and with Edaa.

Qualified investors also include any other persons to be determined by CMA and natural persons who can open investment accounts inside the Kingdom and accounts at Edaa, and who fulfill the following criteria. They should have executed deals in securities markets, with a total value of not less than SAR 40 million, and not less than 10 deals in each quarter during the past 12 months, have a net assets value not less than SAR 5 million, to be working or has worked for at least three years in the financial sector, to hold a general certificate in securities dealing, approved by CMA, and to hold a professional certificate in the field of securities business, approved by an internationally recognized body, or can be any other persons to be determined by CMA.

Company Information

The company was established in 2005 in Riyadh as a sole proprietorship, which was transformed into a closed joint stock company early 2021.

International Human Resources’ current capital is SAR 20 million, divided into two million shares. Its capital will become SAR 25 million after the IPO.

The company's activities are outsourcing services for human resources, employment services for leading positions, HR-related administrative consultancy, and HR-related employment services and technical products.

The company has three branches within the Kingdom, in addition to three other branches abroad, as well as its headquarters in Riyadh.