Neft Alsharq issues prospectus to float 5M shares on Nomu

Logo of Neft Alsharq Co. Chemical Industries

Neft Alsharq Co. Chemical Industries published the prospectus for offering five 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.

For More IPOs

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.

The share sale will be limited to qualified investors stipulated in the glossary of defined terms used in the CMA’s regulations and rules.

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.

Company Profile
Company	Neft Alsharq Co. for Chemical Industries
Market	Nomu-Parallel Market
Core Activities	Production of engines oils, greases and cooling fluids
Capital Pre-IPO	SAR 20 mln
Capital Post-IPO	SAR 25 mln
Share Par Value	SAR 1/share

IPO Summary
Issue Percentage	20% of post-increase capital (25% pre-increase capital)
Offered Shares	5 mln
IPO Minimum Limit	100 shares
IPO Maximum Limit	1.25 mln shares
Offer Period	May 26-June 2, 2024
Final Allocation	June 6, 2024
Surplus Refund (If any)	June 10, 2024

Company Shareholders
Shareholders	Pre-IPO		Post-IPO
Shareholders	Number of Shares (mln shares)	Ownership (%)	Number of Shares (mln shares)	Ownership (%)
Sabeel Al-Reyadah Co. Ltd.	2.84	14.19%	2.84	11.35%
Asset Management Co. Ltd.	2.23	11.14%	2.23	8.91%
Ibrahim Ali Ibrahim Al-Mohsen*	2.00	10.00%	2.00	8.00%
Abdulaziz Abdullah Mohammed Al-Rashid	1.98	9.91%	1.98	7.92%
Asaad Rumaih Othman Al-Rumaih	1.50	7.50%	1.50	6.00%
Other shareholders owning less than 5% (43 shareholders)**	9.45	47.27%	9.45	37.81%
The public (Qualified investors)	--	--	5.00	20.00%
Total	20.00	100%	5.0	100%

*Ibrahim Al-Mohsen has indirect ownership of (7.10%) before the IPO, and it will become (5.68%) after the IPO, which resulted from his ownership by 50% in Sabeel Al-Reyadah, which owns 14.19% of the company’s pre-IPO shares. This percentage will become 11.35% after the IPO.

**There is indirect ownership by other shareholders who own less than 5%.

Additional Information
Financial Advisor & Lead Manager	Yaqeen Capital
Receiving Agents	Al Rajhi Capital - Riyad Capital - ANB Capital - Derayah Financial - Saudi Fransi Capital - Albilad Capital - AlJazira Capital - SNB Capital - Alinma Investment - Alistithmar Capital

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