Sport Clubs offers 6.86M shares at SAR 7.5 to retail investors
The retail subscription period will be open for one day only.
The shares allocated to individual subscribers represent 20% of the total shares on offer.
For More IPOs
In March, the Capital Market Authority (CMA) approved the company's application to list and offer 34.32 million shares on TASI. The offer represents 33% of Sport Clubs' pre-IPO capital of SAR 104 million, divided into 104 million shares with a par value of SAR 1 each.
Post-IPO, the offering will account for 30% of the company's enlarged capital following the issuance of new shares.
The institutional tranche closed last week, with the offering covered approximately 44.1 times the total number of shares on offer.
Sport Clubs will be the seventh company to list on TASI this year, following the IPOs of Derayah Financial on Feb. 20, Arabian Company for Agricultural & Industrial Investments (Entaj) on Feb. 26, Umm Al Qura for Development and Construction Co. (Masar) on May 5, United Carton Industries Co. (UCIC) on May 12, Flynas Co. on May 28, and Specialized Medical Co. (SMC) on June 15.
Tadawul witnessed 14 IPOs last year, following listings by Middle East Pharmaceutical Industries Co. (Avalon Pharma) on Jan. 30, Modern Mills for Food Products Co. on March 5, Miahona Co. and Dr. Soliman Abdulkader Fakeeh Hospital Co. (Fakeeh Care) on May 21, Saudi Manpower Solutions Co. (SMASCO) on May 26, Al Taiseer Group Talco Industrial Co. (TALCO) on May 28, Rasan Information Technology Co. on May 29, Almajed for Oud Co. on Sept. 15, Arabian Mills Co. on Sept. 18, Fourth Milling Co. (MC4) on Oct. 2, Tamkeen Human Resources Co. on Nov. 5, United International Holding Co. on Nov. 19, Almoosa Health Co. on Dec. 23, and Nice One Co. on Dec. 24.
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