Latest news with #ServiceEquipmentCo.
Argaam
21-04-2025
- Business
- Argaam
Service Equipment's Nomu IPO 147% covered, price set at SAR 84/share
Service Equipment Co. closed its initial public offering (IPO) for 720,000 ordinary shares, or 30% of its capital. The IPO price was set at SAR 84 per share, Yaqeen Capital Co., the financial advisor and lead manager, said. In a statement on Tadawul, Yaqeen Capital said the offering was 147.02% covered during the subscription period starting April 13 until April 17, 2025. The brokerage will finalize the necessary procedures with the Saudi Exchange (Tadawul) and then announce the listing date for Service Equipment's shares on Nomu, the statement added. According to data available with Argaam, Service Equipment offered 720,000 shares for qualified investors, with a price range of SAR 80 -84 per share. These shares represent 30% of its SAR 24 million capital, divided into 2.4 million share at a par value of SAR 10 per share.
Zawya
10-04-2025
- Business
- Zawya
Saudi's Service Equipment Co. sets IPO offer price range
Saudi Arabia's Service Equipment Co., which is selling 30% of its issued share capital in an IPO, has set the offer price range at between 80 and 84 Saudi riyals ($21.33 and $22.40) per share. The book-building period for qualified investors commences on 13 April and ends on 17 April, Yaqeen Capital, the lead manager to the issuance said on the Tadawul exchange. In December 2024, the Saudi Exchange approved Service Equipment's application to launch an IPO. The share offering will be limited to qualified investors. Following the share sale the stock will be listed on the Parallel Market Nomu. Headquartered in Jeddah, the company specialises in providing supplies, including maintenance equipment and accessories, to automotive garages/ workshops and fuel stations. Service Equipment was established in 1980 with a paid-in capital of SAR 24 million ($6.4 million). (Writing by Brinda Darasha; editing by Seban Scaria)
Argaam
17-03-2025
- Business
- Argaam
Service Equipment issues prospectus for IPO on Nomu
Service Equipment Co. issued today, March 17, the prospectus for its planned offering of 720,000 shares on the Nomu -Parallel Market. The offer shares represent 30% of the company's total 2.4 million share capital. For More IPOs The offering period will run from April 13-17. The Capital Market Authority (CMA) approved the Nomu listing of Service Equipment in December 2024. The company's current activities cover the distribution and marketing of products, supplies, equipment, and related services in the fields of maintenance workshop equipment, hand tools, diagnostic and inspection equipment, oil and lubrication systems, maintenance services, fuel station equipment and accessories, and car wash systems. According to its commercial register, the company's activities also include installing machinery and equipment, wholesale trading of transportation equipment (excluding cars, motorcycles, and electric vehicles), wholesale and retail trading of industrial machinery and equipment spare parts, and retail sales of fuel station equipment and spare parts, including fuel pumps and general storage facilities. Company Profile Company Service Equipment Co. Market Parallel Market-Nomu Core Activities Provision of maintenance equipment, such as car lifts, car wash systems, and fuel station equipment Capital (Pre- & Post- Offering) SAR 24 mln Number of Shares (Pre- & Post- Offering) 2.4 mln Nominal Value Per Share SAR 10 Offering Details Offering Percentage 30 % Number of Offer Shares 720,000 IPO Minimum Limit 10 shares IPO Maximum Limit 119,990 shares Offer Period April 13-17, 2025 Final Allocation April 22, 2025 Surplus Refund (if any) April 24, 2025 Company Shareholders Shareholders Before IPO After IPO Number of Shares ('000) Ownership (%) Number of Shares ('000) Ownership (%) Ahmad Omar Abubakr Balubaid Holding Co. 2,112.00 88.00 % 1,478.400 61.60 % Omar Abubakr Balubaid Ltd. 288.00 12.00 % 201.60 8.40 % Qualified Investors -- -- 720.00 30.00 % Total 2,400.00 100 % 2,400.00 100 %
