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Homegrown Tharwah HR has priced its Nomu IPO at SAR 62 per share, according to a statement to Tadawul. The regional recruitment and HR agency is taking a 15% stake to Tadawul’s parallel market Nomu. The offering price would give the company a post-listing market cap of SAR 292 mn, and would see it rake in up to SAR 43.8 mn in proceeds, according to Enterprise calculations.
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Timeline: Qualified investors can place their orders with the receiving banks starting today until Sunday, 11 August. This will be followed by the final allocation of shares on Thursday, 15 August. Investors can subscribe to a minimum of 10 shares and a maximum of 235k, according to the offering’s prospectus (pdf).
Use of proceeds: The company will use the funds to finance its expansion projects and finance its working capital, after covering the listing expenses valued at SAR 2.2 mn.
Lockup period: The two substantial shareholders will not be able to execute any transactions on their shares for a period of 12 months starting from the first day of trading.
ADVISORS– Value Capital is acting as the sole financial advisor and lead manager on the transaction, while Bakertilly is acting 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.
2023 KPIs in a snapshot: The company’s revenues doubled y-o-y to SAR 79.4 mn in 2023. Some 65.4% of the company’s top line is attributed to the company’s training and education unit. Meanwhile, the prospectus recorded no revenues generated from the company’s Dubai and Cairo branches.
