Atlas Elevators issues prospectus for IPO on Nomu

Logo of Atlas Elevators General Trading & Contracting Co.

Atlas Elevators General Trading & Contracting Co. issued today, Aug. 2, its prospectus to float 1.2 million shares, or 20% of its post-IPO capital of SAR 60 million (25% of the current capital of SAR 48 million), on Nomu-Parallel Market.

The share sale will run from Sept. 10-14 for qualified investors.

Atlas Elevators was established in 2010. The company manufactures all kinds of elevators with high quality and original spare parts. It also offers after-sale services, including maintenance and technical support for its clients in line with the approved safety standards.

In June, the Capital Market Authority (CMA) gave the green light for the company to offer 20% of its capital on Nomu, Argaam earlier reported.

Company Profile
Company	Atlas Elevators General Trading & Contracting Co.
Market	Nomu-Parallel Market
Core Activities	Manufacturing, installation and maintenance of elevators
Capital	SAR 48 mln

IPO Summary
Issue Percentage	20%
Offer Shares	1.2 mln
Minimum Limit	10 shares
Maximum Limit	299,990 shares
Subscription Period	Sept. 10-14, 2023
Final Allocation	Sept. 19, 2023
Surplus Refund (if any)	Sept. 21, 2023

Company Shareholders
Shareholders	Pre-IPO			Post-IPO
Shareholders	Number of Shares (‘000 shares)		Ownership (%)	Number of Shares (‘000 shares)	Ownership (%)
Mohsen Ali Daly Al-Otaibi	713.21	14.86%		713.21	11.89%
Sheikh Malik Hammoud Faisal Al-Sabah	529.00	11.02%		529.00	8.82%
Abdullah Fahd Ali Al-Otaibi	387.31	8.07%		387.31	6.46%
Awwad Bard Jaed Al-Enezi	340.07	7.08%		340.07	5.67%
Fahd Ali Daly Al-Otaibi	340.07	7.08%		340.07	5.67%
Yacoub Youssef Abdul Latif Al-Ateeqi	264.50	5.51%		264.50	4.41%
Shareholders owning less than 5%	2225.84	46.37%		2225.84	37.10%
QFIs	--	--		1200.00	20.00%
Total	4800.00	100%		6000.00	100%

Additional Information
Financial Advisor and Lead Manager	Yaqeen Capital

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