Latest news with #SNBCapital
Argaam
08-07-2025
- Business
- Argaam
List of receiving entities for Sport Clubs IPO
Retail investors began today, July 8, subscribing to 6.86 million shares of Sport Clubs Co. at SAR 7.5 per share, as determined through the book-building process. The company stated that the retail subscription period will be limited to just one day. Sport Clubs plans to offer 34.32 million shares, representing 30% of its SAR 250 million share capital, at nominal value of SAR 1, according to data compiled by Argaam. The receiving entities are Derayah Financial, Al Rajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Alinma Investment, Yaqeen Capital, Alkhabeer Capital, SAB Invest, ANB Capital, Sahm Capital, GIB Capital, Musharaka Capital, EFG Hermes Saudi Arabia, Osool & Bakheet Investment, and Awaed Capital.
Zawya
01-07-2025
- Business
- Zawya
Saudi ACWA Power prices rights issue at $56 per share
Saudi utility giant ACWA Power is undertaking a rights issue to increase its share capital by 7.12 billion riyals ($1.9 billion) at an offer price of SAR 210 ($56) per share. The company will sell nearly 34 million new shares to take its post-offering number of shares to over 766 million. ACWA Power had said last month that the rights issue may include a rump placement to ensure full subscription. SNB Capital, J.P. Morgan and Citigroup Saudi Arabia are the joint financial advisors for the rights issue. The rights issue will support ACWA Power's growth strategy, which includes tripling its assets under management by 2030 and strengthening its financial position. It has allocated 53% to 60% of the proceeds for spending in the Middle East and North Africa (MENA), according to Zawya Projects. (Writing by Brinda Darasha; editing by Seban Scaria)
Zawya
26-06-2025
- Business
- Zawya
Saudi's SMC struggles on debut: IFR
Specialized Medical Company continued a run of poor debuts on Tadawul with its shares opening below the SR25 issue price at SR24.50 following the company's SR1.88bn (US$501m) IPO. Shares reached the issue price but closed 3.4% lower at SR24.16. Nearly 17.4m shares changed hands, representing 23.2% of the 75m shares sold in the IPO. EFG Hermes and SNB Capital ran the deal. The Tadawul All-Share Index has fallen in recent weeks to lows not seen since the end of 2023 amid wider volatility surrounding the conflict between Iran and Israel and remains down nearly 9% this year despite some positive moves since the announcement of a tentative ceasefire. SMC saw relatively low retail take-up with the 20% tranche only 1.5 times covered. The weak debut follows low-cost carrier Flynas, which closed down 3.4% on its first day, though shares have since rallied past the SR80 issue price to close at SR80.60 on Wednesday. Prior to that United Carton Industries shares closed just below the SR50 issue price and remain well below at SR38 despite some momentum in recent days. The weakness is in stark contrast to the expectation of buyers and sellers in IPOs that shares should hit the limit of a 30% rise on debut – though of late even some that met that initial performance metric have fallen below issue, such as poultry producer Entaj.
Argaam
19-06-2025
- Business
- Argaam
SMC retail IPO 1.5x covered; 10 share/subscriber
Specialized Medical Co. (SMC) successfully completed of its retail subscription for listing on the Main Market (TASI), SNB Capital said in a statement to Tadawul. SNB Capital and EFG Hermes KSA are the lead manager, financial advisor, bookrunner, and underwriter for the potential initial public offering (IPO). As many as 317,820 retail investors subscribed to the offering at a final price of SAR 25 per share, with total retail requests of nearly SAR 542.2 million. The IPO was 1.45x covered. Individual investors will receive a minimum of 10 shares each, while rump shares will be allocated on a pro-rata basis based on the size of each individual investor's request compared to the total remaining subscribed shares, at an average allocation factor of 63.9%. According to data compiled by Argaam, retail investors subscribed during June 15-16, to 15 million shares of SMC at SAR 25 per share, which was determined through the book-building process. SMC offered 75 million shares, representing 30% of the company's SAR 250 million capital divided into 250 million shares at SAR 1 each, on the Main Market (TASI).
Argaam
15-06-2025
- Business
- Argaam
List of receiving entities for SMC IPO
Retail investors began today, June 15, subscribing to 15 million shares of Specialized Medical Co. (SMC) at SAR 25 per share, as determined through the book-building process. Retail investors subscription period was initially scheduled to begin on May 28 and end on May 29, before the postponement was announced. For More IPOs The company decided to float 75 million shares, or 30% of its share capital valued at SAR 250 million, divided into 250 million shares, at a nominal value of SAR 1 per share, data compiled by Argaam showed. The receiving entities are Derayah Financial, Al Rajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Alinma Investment, Yaqeen Capital, Alkhabeer Capital, SAB Invest, ANB Capital, Sahm Capital, and GIB Capital.
