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Qomel eyes Nomu debut: Private healthcare provider Qomel will offer a14.3% stake on parallel market Nomu, its prospectus (pdf) showed yesterday. The company will offer 500k new shares to qualified investors.
The timeline: Qualified Investors will start placing their orders starting Sunday, 21 April until Thursday, 25 April. A final allocation if set for Thursday, 2 May with excess subscription fees, if any, refunded on Thursday, 9 May.
Use of proceeds: The company will use proceeds from the offering to invest in growth, including a SAR 100 mn pharma manufacturing facility being built by fully owned subsidiary Qomel Factory Co. in Sudair Industrial City. Some USd 2.4 mn in proceeds will go to cover the cost of the IPO.
About Qomel: Established in 2007, Qomel is a Riyadh-based healthcare company specialized in pharma and medical devices. It has branches in Jeddah and Dammam. It has multiple distribution agreements with global pharma players, including UK’s Clinigen, Waymade, France’s Ohre Pharma, Italy’s Adienne and others.
2023 KPIs: The healthcare provider’s bottom line was down 21.2% y-o-y to SAR 5.2 mn by the end of June 2023, while revenues were up 10.6% y-o-y to SAR 44 mn.
Lock-up period: All four substantial shareholders will have to abide by a 12-month lock-up period starting from the first day of trading before they can make any transactions on their shares.
ADVISORS-Derayah Financial is quarterbacking the transaction as lead manager, while Watheeq Capital is acting as financial advisor.
