‎Saudi Home Loans issues prospectus for 30% share sale on Tadawul

‎Saudi Home Loans issues prospectus for 30% share sale on Tadawul

Saudi Home Loans (SHL) announced today, March 2, issuing the prospectus for its planned initial public offering (IPO) on the Saudi Exchange (Tadawul).

The group plans to sell 30 million shares, or 30% of its capital.

On Dec. 29, 2021, the Capital Market Authority (CMA) approved the company's request to go public.

SHL provides real estate financing services for individuals.

The subscription targets two tranches:

Participating parties:

The tranche comprises all categories of investors entitled to participate in the book-building process. A total of 30 million shares or 100% of the offer size will be allocated to the participating parties, subject to a scale-back to 90% or 27 million shares.

Retail investors:

This tranche comprises Saudi natural persons, and any non-Saudi natural person who is resident in the Kingdom and GCC persons, in each case who has a bank account with one of the receiving agents, and is entitled to open an investment account with them.

Up to 10% of the offer size or 3 million shares will be allocated to this tranche.

The book-building process for participating parties will run from March 15-21. The retail subscription period will begin on March 27 and end on March 29.

Riyad Capital was appointed as financial advisor, lead manager, institutional bookrunner and underwriter