Logo of Al-Dawaa Medical Services Co.
Al-Dawaa Medical Services Co. (DMSCO) announced the prospectus for the initial public offering (IPO) of 25.5 million shares, or 30% of its capital on the Saudi Exchange (Tadawul).
Last month, the Capital Market Authority (CMA) approved an application by Al-Dawaa to sell its shares in an initial public offering.
The period for registering requests and book building period will run from Feb. 13 to Feb. 17, 2022.
Retail subscription period will run for three days starting from Feb. 27.
Participating parties: This tranche comprises the parties entitled to participate in the book building process as specified under the book building instructions. The number of shares that will be allocated initially is 25.5 million, representing 100% of the total IPO. Final allocation of the offer shares will be made after the end of the subscription period for individual investors. The lead managers shall have the right to reduce the number of shares allocated to participating parties to 22.95 million shares, representing 90% of the total offer shares.
Individual investors: This tranche comprises Saudi Arabian natural persons, in addition to any non-Saudi natural person who is resident in the Kingdom or any GCC natural persons, provided they have a bank account with one of the receiving entities and are allowed to open an investment account. The number of shares offered for retail investors amounts to 2.55 million shares maximum, or 10% of total offered shares.
Al-Dawaa’s first pharmacy was established in 1993 and afterwards the Company succeeded in becoming one of the leading pharmaceutical retailers in Saudi Arabia, including via its chain of over 800 pharmacies across the Kingdom together with online and wholesale channels.
Company Profile | |
Company | Al-Dawaa Medical Services Co. |
Market | Main market |
Core Activities | Information technology – digital services |
Capital | SAR 850 mln |
Number of shares | 85 mln shares |
IPO Summary | ||
Issue percentage (%) | 30% | |
Number of shares offered | 25.5 mln shares | |
Qualified subscribers | – Participating categories that include investment funds, QFIs, legal entities and GCC investors. – Retail investors | |
IPO minimum limit for retail investors | 10 shares | |
Minimum size for institutional investors | 100,000 shares | |
Minimum limit for retail investors | 250,000 shares | |
Maximum limit for institutional investors | 4249999 shares | |
Request registration period and book building process for institutional investors | 5 days from Feb. 13-17, 2022 | |
Retail subscription period | 3 days from Feb. 27-March 1, 2022 | |
Final allocation | March 9, 2022 | |
Surplus refunds | March 9, 2022 | |
Special Information | ||
Financial advisor, lead manager, underwriter and book runner | Riyad Capital | |
Receiving banks | Riyad Bank, Saudi National Bank, Al Rajhi Bank, Arab National Bank | |
Additional Information | |
Financial advisor, lead manager, main underwriter and book runner | GIP Capital |
Co-underwriters | Alinma Investment, ANB Invest |
Receiving banks | Saudi National Bank, Saudi British Bank, Al Rajhi Bank, Riyad Bank |
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