Subscription for 500,000 Al-Shehili shares begins in the parallel market

Today, Sunday, subscription for 500,000 shares of the Metallurgical Industries Company’s shares began in the parallel market, Nomu.
According to Saudi Tadawul data, the offering to Al-Shehili Metallurgical Industries Company represents 20% of the company’s total capital, after the offering, and represents 25% before the capital increase.

Determine the price range

It noted that the price range for subscribing to Al Shahili Metal Industries Company shares was set at between 76 and 80 riyals per share.
According to the prospectus of Al Shahili Metal Industries Company, the company’s current capital is 20 million riyals, divided into two million ordinary shares, paid in full before the offering, the value of each share being 10 riyals.
The company’s capital will be 25 million riyals, divided into 2.5 million ordinary shares.
The subscription period for eligible investors in the offering shares will last for 7 days, ending next Monday.

Categories of investors

Subscription to the offering shares is limited to qualified investors, namely:
Financial market institutions acting for their own account, and clients of a financial market institution licensed to practice management activities, provided that the financial market institution has been appointed on conditions that enable it to take decisions regarding accepting participation in the offering and investment in the parallel market, on behalf of the client, and without the need to obtain a His prior approval.
The prospectus stated that investors: the government of the Kingdom or any governmental entity, or any international body recognized by the Authority, or any other financial market recognized by the Authority, or a depository center.
Among the categories of investors: companies owned directly by the government or through a portfolio managed by a financial market institution licensed to practice management activities.
Categories of investors include: companies and funds established in the Gulf states, investment funds, and any other legal persons who may open an investment account in Saudi Arabia, and an account with the deposit center.
Categories of investors include: natural persons who may open an investment account in Saudi Arabia and an account with the deposit center and who meet several criteria, which are:
1- He must have concluded deals in the stock markets with a total value of not less than 40 million riyals, and not less than 10 deals in each quarter during the past 12 months.
2- The value of his net assets should not be less than 5 million riyals.
3- He must work or have worked for at least 3 years in the financial sector.
4- He must have a general certificate for dealing in securities approved by the Authority.
5- He must have a specialized professional certificate in the field of securities business accredited by an internationally recognized body.
Categories of investors include: any other persons determined by the Authority.
The maximum subscription limit for the shares offered by qualified investors is 124,990 thousand shares, while the minimum subscription limit is 10 shares.

Allotment of shares

The final allocation process for the offering shares will be no later than Thursday, January 16, while the surplus will be returned within the two business days following the allocation process.
The company appointed Forsa Financial Company as financial advisors, while Arbah Financial Company was appointed as the subscription manager.

Recipients

It stated that the recipients are: SNB Capital, Alawwal Investment, Al Rajhi Capital, Al Istithmar Capital, BSF Capital, Al Jazira Capital, Al Bilad Capital, Al Khabeer Capital, ANB Capital, Alinma Investment, Riyad Capital, Sahm, Derayah Capital, and Yaqeen. Finance.
Al Shehili Metal Industries Company was established as a sole proprietorship on August 3, 2005.