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Arabica Star is taking a 25% stake (representing 275k shares) to the Nomu parallel market, it said in a prospectus (pdf). The restaurant operator lined up Capital Market Authority approval in September.
Post-IPO structure: Hammoud Mohammed Saleh Al Hamoud will be selling down his 99% stake to 79.9% and Qamasha Ibrahim Abdulaziz Al Hamid’s ownership will be reduced to 0.08% from 0.1%.
Use of proceeds: SAR 2.5 mn of the proceeds will go to covering IPO-related expenses. The rest of the proceeds will be channeled towards establishing a central kitchen and opening new branches.
Subscription limits: Qualified investors will be able to subscribe to 100% of the offering with a minimum of 10 shares and a maximum of 68.7k shares.
The timeline:
- Qualified investors will be able to place their orders starting Sunday, 17 November until Thursday, 21 November.
- The final allocation of shares will take place on Tuesday, 26 November
- Any excess subscription fees will be refunded by Thursday, 28 November
About Arabica Star: Founded in 2012 in Buraidah, Arabica Star operates coffee shops and restaurants. Its activities include dine-in restaurants, takeout services, food trucks, coffee shops, ice cream parlors, and fresh juice bars. The company manages seven sub-registers across Riyadh, Buraidah, Al Rass, and Unaizah.
ADVISORS- Yaqeen Capital is quarterbacking the transaction as financial advisor and lead manager with RSM as bookrunner. Receiving agents include Alistithmar Capital, Alinma Investment, SNB Capital, AlJazira Capital, Riyad Capital, ANB Capital, Albilad Capital, Al Rajhi Capital, Derayah Financial, BSF Capital, SAB Invest, Alkhabeer Capital, and Sahm Capital.
