The start of the subscription of individuals in the “Al-Nayifat” company


The subscription period for individual subscribers to the offering of Nayifat Finance Company “Nayifat” began today, Sunday, November 7, 2021, for two days until the end of Monday, November 8, 2021, and the offering price is 34 riyals per share.

The company allocates 3.5 million ordinary shares representing 10% of the total shares offered for public subscription to individual subscribers as a maximum. The minimum subscription for individual subscribers is 10 shares, while the maximum is 300,000 shares. The final allotment of the offering shares will be announced no later than Saturday, November 13, 2021, while the excess subscription amounts will be returned no later than Monday, November 15, 2021. The company aims to offer 35 million ordinary shares of the company’s shares, which represents 35% of the company’s share capital. The money issued to the company, by selling the issued shares belonging to the selling shareholders.

Al-Nayifat Finance Company “Al-Nayifat” had announced the successful completion of the process of building the order book for the segment of the categories participating in the company’s shares and setting the final offer price at 34 Saudi riyals per share, covering 136 times of the total offered shares. “Al-Nayifat” appointed HSBC Saudi Arabia as the financial advisor and manager of the institutional subscription lead book and the main underwriter in relation to the offering shares, and appointed Saudi Fransi Capital and GIB Capital as managers of the institutional subscription register and the co-underwriters. Together, the three companies are referred to as the “bookrunners for the subscription”, and the Saudi British Bank “SABB”, the Saudi National Bank, Riyad Bank and Al Rajhi Bank are designated as the recipients.

It is noteworthy that Nayifat Finance Company’s portfolio includes more than 44,000 clients as of the first quarter of 2021, and Nayifat is the first non-bank financial institution to obtain a license from the Saudi Central Bank to issue credit cards. Al-Nayifat Finance Company was established in 2002 with a capital of 10 million riyals, and its current capital is one billion riyals, and its market share in the retail financing market is 18% as in the first quarter of 2021.

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