Nahdi Medical Company completion of retail offering period

Nahdi Medical Company (“Nahdi” or “the Company”), the largest retail pharmacy chain and fast-growing omnihealth platform in the Kingdom of Saudi Arabia (“KSA” or “Saudi Arabia”), along with HSBC Saudi Arabia and SNB Capital, as joint financial advisors, announces the successful completion of the Final Allotment of Shares in relation to the Initial Public Offering (the “IPO” or the “Offering”).

Following the completion of the institutional book-building process, the individual investors offering took place from 13 March to 15 March 2022G. The retail offering saw 1,099,863 retail investors subscribing to invest SAR 6.76 billion at the IPO price of SAR 131 per share, indicating coverage amounting to 13x for the retail tranche. The number of shares that were allocated to the individual investors’ tranche was 3,900,000 shares, representing 10% of the total offering. The retail offering followed the completion of the institutional book-building process, which was oversubscribed 59 times.

The Company allocated a minimum of 3 shares to each retail subscriber included in the subscription request. The remaining shares will be allocated on a pro-rata basis based on demand size to the remaining demand with an average allocation factor of 1.243%.

Offer Details

The Final Offer Price for the Offering has been set at SAR 131 per share, implying a market capitalization at listing of SAR 17,030 million (USD 4,541 million)

The total Offering size is SAR 5,109 million (USD 1,362 million).

The Offering is comprised of 39,000,000 existing ordinary shares of the Company to be sold by the current shareholders (the “Offer Shares”)

Immediately following admission, the Company is expected to have a free float of 30% of the Company’s issued share capital.