Dubai: Saudi and Gulf investors can subscribe to Saudi Arabia’s next big IPO from March 13, from the Kingdom’s biggest pharmacy chain Nahdi Medical Company. The stock is priced at SR131 a share and implies a market cap of SR17..03 billion.
Today, Nahdi is the largest retail pharmacy chain in Saudi Arabia and our omni-health platform will help deliver further value through an integrated ecosystem,” said Yasser Joharji, CEO. “We are honored to expand our shareholder base to a diverse group of respected investment institutions.
“We look forward in the next few days to welcoming individual investors into our enlarged and diversified shareholder base. Their interest during the retail subscription period will be critical as the company embarks on the next exciting chapter of its journey.”
The total offer size is SR5.10 billion, featuring 39 million ordinary shares to be sold by the current shareholders. This may be reduced to 35.1 million shares (representing 90 per cent of the total offer shares, depending on the level of demand by individual investors (as defined below). The final number of offer shares allocated to institutional investors will be “clawed back accordingly based on subscriptions from individual investors”.