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‎Qualified investors begin subscribing to 750,000 ASG Plastic shares on Nomu

July 28, 2024
in Business
‎Qualified investors begin subscribing to 750,000 ASG Plastic shares on Nomu
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Qualified investors begin subscribing to 750,000 ASG Plastic shares on Nomu

Logo of ASG Plastic Factory Co.

Qualified investors start today, July 28, subscribing to 750,000 shares of ASG Plastic Factory Co., which is set to list on the Nomu-Parallel Market at a price range of SAR 40-44 per share.

The offered shares represent 10.64% of post-IPO capital of SAR 70.5 million, or 11.90% of pre-IPO capital, divided into 7.05 million shares, at a par value of SAR 10.

For More IPOs

The subscription period for qualified investors will run until Aug. 5.

This offering will bring the number of Nomu share offerings to 14 in 2024.

The Capital Market Authority (CMA) approved in March the company’s request to list and float its shares on Nomu, Argaam reported.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own account, as well as clients of capital market institutions authorized to carry out management operations.

This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.

The categories include the Saudi government, any government body or 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, either 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.

Investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu, qualified foreign financial institutions and any legal person entitled to open investment accounts inside the Kingdom and with Edaa.

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

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

Natural persons should also have a net asset 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 includes any other persons to be defined by the CMA.

Company Profile

ASG Plastic Factory was established as a sole proprietorship by Hussa Al-Saloum in Riyadh in 2005. It was then converted into a limited liability company in 2011 and became a closed joint-stock company in 2023.

The company manufactures plastic containers and boxes, plastic bottles of various shapes, disposable household items, kitchenware, and decorations.

The factory’s activities include producing and selling juice bottles, jars, plastic spoons, forks, knives, gallon containers, and date boxes.

Company Profile 

Company 

ASG Plastic Factory Co.

Market 

Nomu-Parallel Market 

Core Activities 

Manufacturing of disposable plastic products

Pre-IPO Capital

SAR 63 mln

Number of Shares Pre-IPO

6.3 mln

Post-IPO Capital

SAR 70.5 mln

Number of Shares Post-IPO

7.05 mln

Par Value 

SAR 10/share

IPO Summary

Issue Percentage

10.64% of post-IPO capital (or 11.90% of pre-IPO capital)

Offered Shares

750,000

IPO Minimum Limit

10 shares

IPO Maximum Limit

352,000 shares

Offer Period

7 days (July 28-Aug. 5, 2024)

Final Allocation

Aug. 11, 2024

Surplus Refund (If any)

Aug. 13, 2024

Company Shareholders

Shareholders

Pre-IPO

Post-IPO

Number of Shares

(‘000)

Ownership (%)

Number of Shares

(‘000)

Ownership (%)

Mohamed Fahd Nasser Al-Othman

2,898

46.00 %

2,898

41.11 %

Mohamed Fahd Nasser Al-Othman

1,890

30.00 %

1,890

26.81 %

Fahd Nasser Fahd Al-Othman

504

8.00 %

504

7.15 %

Hamad Nasser Fahd Al-Othman

504

8.00 %

504

7.15 %

Khalid bin Said bin Ahmed Abu Ras

252

4.00 %

252

3.57 %

Mohammed Abdullah Othman Al-Othman

252

4.00%

252

3.57 %

The public (Qualified investors)

—

—

750

10.64 %

Total

6,300

100%

7,050

100 %

Additional Information

Financial Advisor & Lead Manager

Yaqeen Capital

Receiving Agents

Al Rajhi Capital, Albilad Capital, Riyad Capital, SNB Capital, Alistithmar Capital, Alinma Investment, AlJazira Capital, ANB Capital, Alawwal Invest, Derayah Financial, and Saudi Fransi Capital

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Argaam EN – https://www.argaam.com/en/article/articledetail/id/1743517

Tags: businessInvestorsqualified’
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