Tamkeen Human Resources Company (“Tamkeen” or the “Company” or the “Group”), one of Saudi Arabia’s premier providers of innovative human resources solutions, announces the price range for its initial public offering (“IPO” or the “Offering”) and the commencement of the institutional book-building period for Participating Parties.

The price range for the Offering has been set between SAR 46 and SAR 50 per share (the “Price Range”). The institutional book-building period commences today, 13 October 2024, and will end on 17 October 2024.

The Offering’s net proceeds will be distributed to the selling shareholders. The Company will not receive any part of the proceeds from the Offering.

The final price at which all subscribers in the Offering will purchase Shares will be determined at the end of the book-building period.

Offering Details 

The Offer Shares will be listed and traded on the Saudi Exchange’s Main Market following the completion of the IPO and listing formalities with both the CMA and the Saudi Exchange.

  • The price range of the Offering has been set between SAR 46 and SAR 50 per share.
  • The Offering will consist of a secondary offering of 7,950,000 Offer Shares representing 30% of the Company’s total issued share capital.
  • The Offer Shares will be offered for subscription to Individual Subscribers and Participating Parties (as defined below).
  • Following the completion of the Offering, the current shareholders (the “Current Shareholders”) shall collectively own 70% of the Company’s share capital. The Current Shareholders owning 5% or more Shares in the Company are as follows:
  • Tasheel Real Estate Company (which owns 34.13 per cent. of the Shares);
  • Dr Sulaiman Al Habib Medical Services Group Company (which owns 25 per cent. of the Shares);
  • Fares Saleh Mutlaq Al Henaki (who owns 10 per cent. of the Shares);
  • Saleh Mohammed Saleh Al Hajaj (who owns 10 per cent. of the Shares); and
  • Abdulrahman Ali Abdullah Al Gubaisi (who owns 7.5 per cent. of the Shares)
  • A maximum of 7,950,000 shares, representing 100% of total Offer Shares will be allocated to Participating Parties.
  • The Financial Advisor shall have the right, if there is sufficient demand by Individual Subscribers and in coordination with the Company, to reduce the number of Offer Shares allocated to Participating Entities to 6,360,000 Offer Shares, representing 80% of the Offer Shares.
  • A maximum of 1,590,000 shares, representing 20% of the total Offer Shares, will be allocated to Individual Subscribers.
  • BSF Capital has been appointed as the Financial Advisor, Lead Manager, Bookrunner, and Underwriter.
  • It's worth noting that Saudi Fransi Capital, as the Lead Manager, has completed all necessary preparations with the receiving entities, which include Saudi Fransi Capital, Sahm Financial, Derayah Financial, ANB Capital, SNB Capital, Riyad Capital, Albilad Capital, Al Rajhi Capital, Alkhabeer Capital, Aljazira Capital, Yaqeen Financial (Yaqeen Capital), Alistithmar Capital, Alinma Investment, and SAB Invest, to handle the subscription requests from individual investors.

Please refer to the Prospectus for details on the expected timetable of the Offering.

The Offering is restricted to the following two groups of investors:

  • Tranche (A): Participating Parties - This tranche comprising  the parties entitled to participate in the book-building instructions as specified under the Instructions for Book-Building Process and Allocation Method in Initial Public Offerings, issued pursuant to CMA Board Resolution No. 2-94-2016, dated 15 Shawwal 1437H (corresponding to 20 July 2016G), as amended, including investment funds, qualified foreign investors, GCC corporate investors and certain other foreign investors pursuant to (SWAP) agreements (collectively referred to as the “Participating Parties” and each a “Participating Party”). The number of Offer Shares to be provisionally allocated to the Participating Parties shall be 7,950,000 Offer Shares, representing 100% of the total Offer Shares. The final allocation will be made after the end of the Individual Subscribers’ subscription (as defined in Tranche (B) below), using the discretionary allocation mechanism by the Financial Advisor in coordination with the Company.
  • Tranche (B): Individual Subscribers - This tranche includes Saudi Arabian natural persons, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi person who can subscribe for her own benefit or in the names of her minor children, as well as non-Saudi natural persons resident in the Kingdom or GCC natural persons, who have an investment account  and an active portfolio with a Receiving Agent. A maximum of 1,590,000 Offer Shares representing 20% of the total Offer Shares shall be allocated to Individual Subscribers. If the Individual Subscribers do not subscribe in full to the Offer Shares allocated to them, the Financial Advisor may, in coordination with the Company, reduce the number of Offer Shares allocated to Individual Subscribers in proportion to the number of Offer Shares subscribed by them.