Saudi Sports Clubs aim to offer 30% of their shares on the stock exchange

The Saudi Sports Club Enterprise intends to offer 30% of its shares in Tadawul by selling shares owned by current shareholders and issuing new shares. The shares that will be sold by 20.19% are distributed by current shareholders, and 9.09% new shares will be offered, representing a total of 30% of the company’s capital to the offer, according to a Saudi financial market announcement. It should be noted that the company obtained the approval of Saudi “Tadawul” to request the inclusion of its shares in the main market in March in March, and also obtained the approval of the Capital Market Authority to request 34.32 million ordinary shares in the same month. The special opportunities for investment are the largest shareholder of the Sports Clubs Company with 40%, followed by the sports event with a share of about 34.5%, then Elaf Gulf Commercial Investment Company with 5.47%. According to the company’s website, the company is in the promising fitness sector in the kingdom and has spread 56 sports clubs in 17 cities in Saudi Arabia. According to the presentation Bulletin, the company plans at least 50 additional branches over the next five years. The company intends to use the outcome of the offer to create and equip new sports clubs, buy very efficient sports devices and pay the debt owed. The price range and the start of the process to build the order record for investors of institutions on June 22, with the process of setting the order record on June 26. The period of individuals will begin on July 8 and will continue for one day. The Saudi -Fransi Capital Company takes over the role of the financial advisor, the coverage contractor and the director of the institution’s subscription record for the public offering of the sports club company.