The company said in a statement seen by Namazon today, Tuesday, that the offering is expected to include a mixture of existing and new shares.
According to the statement, 20% of the company’s capital will be offered after the initial public offering (and before exercising the additional allocation option).
The net receipts receivable from the company will be used to reduce the debt and (if there is any surplus) for the general purposes of the company.
As such, the centers believe that they will be in an excellent position to achieve their growth plans as indicated in the prospectus that will be published in a timely manner regarding the offering.
The centers are among the leading companies in the field of developing, owning and operating modern commercial centers in the Kingdom, and currently includes 19 high-quality commercial centers with a total leasable area of about 1.1 million meters. Square.
The company is also the largest operator of commercial centers in the Kingdom, as its assets are distributed in strategic locations across 10 cities.
The company accounts for a market share of 14% in the four major cities (Riyadh, Jeddah, Dammam Civilization Region and Mecca).
The centers achieved strong growth with their revenues increasing from $ 511 million in 2016 to $ 576 million in 2018, at a compound annual growth rate of 6.2%. / p>
The company also recorded a strong profit margin before calculating interest, taxes, consumption and amortization by 64.9% to reach $ 374 million during 2018, which indicates the company's ability to generate cash flow Strong.
Namazon Services..programmed technical analysis platform ... for UAE, Saudi, and global markets
To more:
NamaaZone " The Power of Knowledge"
