Qualified investors subscribe to Mulkia Investment’s 1.3 mln shares from today

Logo of  Mulkia Investment Co.

Qualified investors will start today, Oct. 22, subscription to 1.3 million shares, or 20% of Mulkia Investment Co.’s 65 million share capital (SAR 6.5 million) on Nomu-Parallel Market. 

The subscription period will run for seven days until Oct. 30.  

Following Mulkia Investment's IPO today, the number of offerings on Nomu will reach 22 in 2023. 

Nomu saw 19 IPOs last year, including Gas Arabian Services Co., Raoom Trading Co., Al-Jouf Mineral Water Bottling Co., Arabian International Healthcare Holding Co. (Tibbiyah), Arabian Food & Dairy Factories Co. (FADECO), Ladun Investment Co., Amwaj International Co., Saudi Networkers Services Co. (SNS), International Human Resources Co. (IHR), Naba Alsaha Medical Services Co., Arabian Plastic Industrial Co. (APICO), Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food), Knowledge Tower Trading Co., Molan Steel Co., Saudi Top Trading Co., Leen Alkhair Trading Co., Nofoth Food Products Co. and Alwaha REIT Fund.

In June, the Capital Market Authority (CMA) approved Mulkia Investment’s application to offer shares on Nomu.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account. It also includes clients of capital market institutions authorized to carry out management operations, provided they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in the parallel market on behalf of the clients without prior consent.

The categories include the Saudi government, any government body, any international entity approved by the CMA or the Saudi market, or any other financial market recognized by the CMA or the Securities Depository Center (Edaa).

They also include companies owned by the government, directly or through a portfolio managed by a market institution authorized to practice management operations; investment funds; in addition to companies and funds established in the GCC countries.

The investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in the parallel market; qualified foreign financial institutions; and any legal person entitled to open investment accounts inside the Kingdom and accounts with Edaa.

Natural persons are also among the qualified investors allowed to open investment accounts inside the Kingdom and accounts with Edaa, provided they fulfil certain criteria.

They should have executed deals in the securities markets, at a total value of no less than SAR 40 million, and no less than 10 deals in each quarter during the past 12 months.

Natural persons should also have net assets value of no less than SAR 5 million and be working or have worked for at least three years in the financial sector. They should hold a general certificate in securities dealing, approved by the CMA; and a professional certificate in the field of securities business, approved by an internationally recognized body.

The list of qualified investors also includes any other persons to be defined by the CMA.

Company Profile

Mulkia Investment was established in 2013 as a Saudi investment firm (closed Saudi joint stock company) with SAR 65 million capital.

Headquartered in Riyadh, Mulkia Investment operates in the securities business including trading and arranging of securities, custody securities, investment management, operation of funds and advisory services.

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