Nomu: Subscription to Axelerated Solutions’ 3M shares starts

Logo of Axelerated Solutions for Information and Communication Technology Co.

Qualified investors started today, May 15, subscribing to three million shares of Axelerated Solutions for Information and Communication Technology Co. on the Nomu-Parallel Market at SAR 27 per share.

The offered shares represent 12% of the company’s pre-IPO share capital, and 10.71% of post-IPO capital.

The company is currently capitalized at SAR 25 million. The post-IPO capital will amount to SAR 28 million, divided into 28 million shares at a par value of SAR 1 each.

For More IPOs

The share sale will run for seven working days starting May 15 to 21, 2025. 

The offerings of Axelerated Solutions will bring this year’s IPOs to 11 on Nomu, after Alshehili Company for Metal Industries and ITMAM Consulting Co. on Jan. 5, Basma Adeem Medical Co. (Smile Care) on Jan. 13. This is in addition to Lamasat Co. on Jan. 20, Ratio Speciality Company for Trading and Hedab Alkhaleej Trading Co. on Feb. 16, as well as Future Vision for Health Training Co. on April 6, Service Equipment Co. on April 13, and Adeer Real Estate and Dkhoun National Trading Co. on May 4.

Nomu witnessed 28 IPOs in 2024.

In December 2024, the Capital Market Authority (CMA) approved Axelerated Solutions’ application to offer its shares on Nomu.

The subscription is limited to certain categories of investors, including capital market institutions authorized to act on their own accounts, as well as clients of capital market institutions authorized to carry out management operations.

This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent. 

The categories include the Saudi government, any government or international entity approved by the CMA, the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center (Edaa).

They also include companies owned by the government, directly or through a portfolio managed by a person authorized to practice management operations. This is in addition to investment funds, companies, and funds established in the GCC countries.

Investors qualified to participate in the subscription include non-resident foreigners who are allowed to invest in Nomu and who meet the requirements stipulated in the guidelines for investment of non-resident foreigners in Nomu.

They also include qualified foreign financial institutions and any legal person entitled to open investment accounts inside the Kingdom and with Edaa.

Natural persons are allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:

They should have executed transactions in the securities markets worth a minimum of SAR 40 million, and at least 10 deals in each quarter during the past 12 months.

Natural persons should also have a net asset value of at least SAR 5 million and be working or have worked for at least three years in the financial sector.

They should hold a general certificate in securities dealing, approved by the CMA, and a professional certificate in the field of securities business, approved by an internationally recognized body.

Established in 2015, the Riyadh-headquartered company offers managed and operational services, software licensing, PCs, and their accessories.