Logo of the Saudi Miyahuna Water Treatment Company
Today, Tuesday, May 21, 2024, individual subscriptions for 9.66 million shares of the company’s shares will begin. Our Saudi water treatment company At a price of SAR 11.50 per share, determined through a book-building process.
The offering shares allocated to individual subscribers represent 20% of the total shares offered for public subscription.
To see more IPOs in the main market and growth
The subscription period for the individual segment lasts two days, ending at the end of Wednesday, May 22, 2024.
Last March, the Capital Market Authority approved the company’s request to register and offer 48.3 million shares for public subscription, representing 30% of the company’s total shares, and the nominal value of the share is 1 riyal.
The subscription for institutions ended last week, with the offering being covered by 170 times the total shares offered.
The IPO of Miyahuna and Soliman Fakeeh Hospital today is the third and fourth during the current year in the main market, after the IPO of Avalon Pharma on January 30, and the Modern Mills Company on March 5.
During the past year, the Saudi market witnessed 8 IPOs that included both companies Flexible Murabaha financing AndResources for manpowerand a company Jamjoom Pharmaceutical Factoryand a company First millsand a company Lome for rentand a company Addis Holdingsand a company Askedand a group MBC.
Most important company information:
Miyahuna Saudi Water Treatment Company is a closed, one-person Saudi joint stock company. It is a subsidiary company owned by Vision Investment. It was established in 2008, and its headquarters are in Riyadh.
The group is the first developer of water and sanitation infrastructure under the public-private partnership model in Saudi Arabia, and its activity is focused on managing the water sector cycle to meet the needs of customers in the municipal and industrial sectors. Water sector cycle management work in general is focused on providing an integrated value chain for water starting from the source. Water and water consumption by the end user.
The main activities of water sector cycle management include:
(1) Production and distribution of potable water and water for industrial uses.
(2) Collection, treatment, recycling and disposal of wastewater.
(3) Managing customer relationships of end users This includes: (a) Aligning customer demand with their future requirements to ensure proactive anticipation of customer requirements (b) Giving priority to customer satisfaction by focusing on quality and reliability (c) Implementing technical compliance management to adhere to and comply with industry standards and relevant laws and regulations (d) Establish a dedicated customer portal to simplify communication and provide an effective platform for customer engagement.
The group mainly operates in the following sectors:
Municipal sectorThe company provides services to some entities such as the National Water Company and the Saudi Water Partnership Company (SWPC) and the General Corporation for Saline Water Conversion.
Industrial sectorThe group’s clients in this sector include a number of government agencies, such as the Cities Authority, and semi-governmental agencies, such as Saudi Aramco.
The group currently manages 6 projects under the long-term build-own-operate-transfer structure (BOOT), restoration, operation and transportation (ROT), and also provides operation and maintenance services (O&M) only for five third-party projects.
Operational capacity of the company’s projects:
The company has invested approximately one billion riyals in water and wastewater assets in the Kingdom, covering more than 8 million individuals throughout the Kingdom (about 30% of the Kingdom’s population), including 2,011 major industrial clients, and the group’s project portfolio enjoys With the following operational capacity:
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The operating capacity of the company’s projects (thousand m³/daily)
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the origin
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2020
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2021
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2022
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September 30, 2023
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Water
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95.3
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95.3
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102.8
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102.8
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Sewage
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566.5
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806.5
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806.5
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806.5
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Total
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661.8
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901.8
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909.3
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909.3
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Subsidiaries:
The company has 7 subsidiaries within the Kingdom. Details are in the following table:
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Subsidiaries
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Company
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Nationality
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Capital (million riyals)
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ownership percentage
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Development and operation of industrial cities limited
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Saudi
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66.6
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100%
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Island environment
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Saudi
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2.0
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100%
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Riyadh water production
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Saudi
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0.5
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100%
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International Water Partners
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Mixed company
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0.5
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40%
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Second International Water Partners
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Mixed company
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0.5
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35%
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Araha Environmental Services
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Saudi
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0.5
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70%
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Sustainable water for environmental services
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Saudi
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0.5
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70%
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company information
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Company
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Our water
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market
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Tassie
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Field of Company
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Water sector
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The company’s capital
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160.93 million riyals
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Number of Shares
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160.93 million shares
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Nominal value
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1 riyal per share
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Subscription information
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Subtraction ratio
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30%
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Offer price
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11.50 riyals
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The number of shares to be offered to individuals
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9.66 million shares
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Those eligible to subscribe
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Individual subscribers
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Minimum amount for individuals
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10 shares
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The upper limit for individuals
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2.5 million shares
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Individual subscription period
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It begins on Tuesday, May 21, 2024 and continues for two days, ending at the end of Wednesday, May 22, 2024.
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Announcement of the final allocation of the offering shares
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May 26, 2024
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Return of excess subscription amounts
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May 30, 2024
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Private information
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Financial advisors, book managers and underwriters
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Saudi Fransi Capital – EFG Hermes Saudi Arabia
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Underwriting Manager
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Saudi Fransi Capital
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Recipients
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Saudi Fransi – Riyad Bank
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Major shareholders in the company
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Contributors
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Before offering
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After subtraction
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Number of Shares
(million shares)
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ownership percentage
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Number of Shares
(million shares)
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ownership percentage
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|
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Vision International Investment Company
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160.93
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100%
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112.65
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70%
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The audience
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—
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—
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48.28
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30%
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Total
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160.93
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100%
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160.93
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100%
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