Saud Qahtani Auction issues IPO prospectus on Nomu

Saud Qahtani Auction Company has issued the prospectus for its initial public offering (IPO) on the Nomu parallel market.

The Capital Market Authority (CMA) approved on Sept. 27 the listing of 39 percent, or 780,000 shares, of Saud Qahtani Auction on Nomu.

The IPO will be confined to qualified investors, according to CMA regulations.

The offering will start on Feb. 14 and will end on March 4, with a maximum subscription limit of 99,999 shares.

Major Shareholders After IPO
Shareholder	Number of shares before IPO (‘000)	Stake %	Number of shares after IPO (‘000)	Stake %
Saud Al Qahtani	1,600	80 %	976	48.8 %
Faleh Saud Al Qahtani	200	10 %	122	6.1 %
Saeed Saud Al Qahtani	200	10 %	122	6.1 %
Public	--	--	780	39 %
Total	2,000	100 %	2,000	100 %

Company Profile
Company	Saud Al Qahtani Auction Co.
Stock market	Nomu- Parallel Market
Company’s core business	Wholesale & retail trade, import & export of machinery, heavy and light equipment & spare parts, and establishing and organizing of public auctions
Company’s status	Active
Company’s capital	SAR 20 mln

IPO Details
IPO Percentage	39%
Number of IPO shares	780,000 shares
IPO price per share	Not determined yet
Eligible investors	Qualifies investors
IPO minimum	10 shares
IPO maximum	99,999 shares
IPO period	From Feb. 14, 2019 until March 4, 2019
Allotment	March 12, 2019
Surplus repayment	March 18, 2019
Additional Details
Lead manager & Financial advisor	Musharaka Capital
Receiving bank	ANB
Banks the company deals with	NCB, Albilad, Al Rajhi, Alinma

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