Sign in
Bookbuilding for Leaf Global Environmental Services’ IPO on parallel market Nomu will begin on Sunday, 26 May, Argaam reported, citing the company’s prospectus. The Jeddah-based environment consultant is preparing to float a 30% stake or 1.5 mn ordinary shares on Nomu at SAR 5 apiece.
The subscription period for the share sale, which is only open to qualified investors, runs through Thursday, 30 May. Investors can place orders for a minimum of ten shares and a maximum of 250k shares each. Final allotment of shares is slated for Thursday, 6 June.
A look at ownership post-IPO: The share sale will see Ghaith Saleh Mohammed Bin Laden — one of the company’s two shareholders — sell down to a 4.5% hold from 34% before the transaction. Abdullah Saleh Mohammed Bin Laden will sell just 0.5%, retaining a 65.5% stake post-offering.
About the company: Established in 2007, Leaf offers multiple environmental consultancy services, including environmental impact assessment, ground and environmental surveys, marine environment services and monitoring and others. Its clients include Aramco, Acwa Power, Neom, Maaden, Samsung, Saudi BinLadin Group, and others.
ADVISORS- Al Khair Capital is quarterbacking the transaction as financial advisor and lead manager, while receiving banks include SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Riyad Capital, Albilad Capital, AlJazira Capital, Alinma Investment and Derayah Financial.
