Service Equipment to Launch 30% IPO in April
Deal News | Mar 19, 2025 | Zawya
Saudi Arabia's Service Equipment Company is set to launch a 30% initial public offering (IPO) this April by listing its shares on the Saudi Parallel Market, Nomu. The offering will comprise 720,000 ordinary shares available from April 13 to April 17, 2024. Yaqeen Capital, the appointed financial advisor, confirmed the move on Tuesday. Headquartered in Jeddah, the company specializes in supplying equipment and accessories to automotive garages and fuel stations. Founded in 1980, Service Equipment boasts a paid-in capital of SAR 24 million ($6.4 million). Service Equipment's IPO, which received approval from the Saudi Exchange in December 2023, will be exclusively available to qualified investors.
Sectors
- Automotive
- Financial Services
Geography
- Saudi Arabia – Service Equipment is a Saudi Arabian company undertaking an IPO listing on the Saudi Parallel Market.
Industry
- Automotive – Service Equipment provides supplies and equipment to automotive garages and workshops, making it a player in the automotive industry.
- Financial Services – The IPO involves Yaqeen Capital as the financial advisor, which connects this event to the financial services industry.
Financials
- 30% – The percentage of Service Equipment's shares to be offered in the IPO.
- 720,000 shares – The number of shares to be offered in the IPO.
- SAR 24 million ($6.4 million) – The paid-in capital of Service Equipment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Service Equipment | Target Company | Company | A Saudi Arabian company providing equipment and supplies to automotive garages and fuel stations. |
| Yaqeen Capital | Financial Advisor | Company | Appointed as the financial advisor for Service Equipment's IPO. |
| Saudi Exchange | Regulatory Body | Government | Approved Service Equipment's application to launch an IPO. |