‎Al Mawarid Manpower issues prospectus to offer 4.5 mln shares on Tadawul

‎Al Mawarid Manpower issues prospectus to offer 4.5 mln shares on Tadawul

Al Mawarid Manpower Co. announced today, April 13, issuing the prospectus for its planned initial public offering (IPO) on the Saudi Exchange (Tadawul).

The share sale was greenlit by the Capital Market Authority (CMA) on Dec. 26, 2022.

The company plans to offer 30% of its SAR 15 million share capital (SAR 150 million).

Individual investors can subscribe to Al Mawarid Manpower shares from May 28-30. The retail offering will be preceded by the book-building process from May 9-15.

The subscription targets two tranches:

Participating parties: Those entitled to participate in the book-building process, including investment funds, companies, Qualified Foreign Investors, GCC Corporate Investors and certain other Foreign Investors pursuant to swap agreements. The tranche is allocated 100% of the offer shares. In case there is sufficient demand by individual investors for the offer shares, the lead manager and the bookrunners have the have the right to reduce the number of offer shares allocated to Participating Parties to 90%, or 4.05 million shares.

Individual Investors: This tranche comprises Saudi natural persons, any non-Saudi natural person who is resident in the Kingdom and GCC persons. A maximum of 450,000 shares will be allocated for individual subscribers, representing 10% of total offer shares.

The company was established in 2012