Tharwah HR’s Nomu offering closes fully subscribed

Homegrown recruitment and HR agency Tharwah HR’s offering on Tadawul’s parallel market Nomu was 107.9% covered, according to a filing to Tadawul.

REFRESHER- The agency is taking a 15% stake public on Nomu, earmarking the proceeds for expansion projects and shoring up its capital. Tharwah had priced its offering at SAR 62 a share, which could see it raking in up to SAR 43.8 mn in proceeds, and give it a market cap of 292 mn at listing.

What’s next: Value Capital will round off required procedures with the Saudi Stock Exchange before determining when trading on its shares will begin.

ADVISORS- Value Capital is acting as the sole financial advisor and lead manager on the transaction, while Baker Tilly is acting as auditor. SNB Capital, Al Rajhi Capital, BSF Capital, Alinma Investment, Riyad Capital, Al Jazira Capital, Alistithmar Capital, Albilad Capital, ANB Capital, SAB Invest, Derayah Financials, Yaqeen Capital, and Alkhabeer Capital were listed as receiving agents.