The Clap
Tam is looking to raise $20 million by offering 16% of its shares for public subscription in the parallel market (Nomu).
What
Last Sunday, the process for qualified investors to subscribe to 585.6 thousand shares of Tam began and will end on May 25, with a price range from SAR 100 – 130 per share.
So What
The proceeds of the offering will be distributed to the shareholders involved in the sale of the offered shares, after deducting the subscription expenses.
The company’s treasury will not benefit from its IPO, as it will be implemented through the shares of the existing owners and not through a capital increase.
Tam saw a 69% YoY increase in its net profits during 2022.
Now What
The company’s issued capital is approximately SAR 36.6 million, and most of its revenues come from advising the Saudi government and government agencies associated with the PIF.
