IBSA

Sale of 30 million shares representing 30% of Mohammad Al-Mojil Group through an Initial Public Offering at an Offer Price of SAR 70 per Share, starting from27 Rabi Athani 1429H to 7 Jumada Alawal 1429H (corresponding to 3 May 2008G to 12 May 2008G).

Mohammad Al-Mojil Group, is a Saudi Joint Stock Company under conversion in accordance with Ministerial Resolution Number 270 dated 29/10/1428H (corresponding to 10/11/2007G) with a paid up capital of SAR 1,000,000,000. The Company is a licensed general contractor specializing in onshore and offshore oil & gas and petrochemical projects. The Company’s core activity is the construction of onshore and offshore oil & gas and petrochemical facilities on a subcontract basis from the primary project contractor who provides the technical requirements, designs and specifications of the project. Al-Mojil role is then to execute the construction as per the requirements.

The Offering is restricted to:

1. Institutional Investors Tranche that includes a number of institutions that have been contacted by the Lead Manager after discussions with the Company and the Selling Shareholder and based on predefined criteria set by the CMA. The amount of shares allocated to institutional investors is 21,000,000 shares representing 70% of the Offering.
2. Individual Investors Tranche that includes individuals having the Saudi Arabian nationality and the minor children of Saudi female divorcees or widows from a marriage to a non-Saudi given that she provides proof of motherhood. The amount of shares allocated to individual investors is 9,000,000 shares representing 30% of the Offering.

To know more read the IPO Prospectus