Retail subscription in Leejam Sports Company’s IPO Starts Today at a Price of 52 per Share

Samba Capital & Investment Management Company (“Samba Capital”) announced that the retail offering of Leejam Sports Company’s (“Leejam” or the “Company”) IPO starts today.  Leejam Sports Company is the owner and operator of fitness centres under the “Fitness Time” brand.  The Capital Market Authority (“CMA”) recently approved Leejam’s application for an offering of 15.7 million shares (representing 30% of the Company’s share capital) to the public.

The retail subscription period will run for seven days from Wednesday 01/08/2018 and end on Tuesday 07/08/2018. During this period, individual investors will have the opportunity to subscribe to 1,571,501 shares (representing 10% of the total offered shares in the IPO) at a price of SAR 52 per share.  

Samba Capital the Financial Advisor, Bookrunner, Lead Manager and Sole Underwriter for Leejam’s IPO stated that 10% of the total offered shares in the IPO have been allocated for subscription by individual investors. The retail offering comes after the successful completion of the institutional tranche of the IPO, where total offered shares (representing 30% of Leejam’s share capital) were offered to institutional investors through a book building process.  The institutional offering generated strong demand from institutional investors with coverage of 8.3 times of the total offered shares, which is a reflection of the strong performance of the Company, quality of its services and confidence in its future growth opportunities.

Samba Capital has confirmed that it has completed all necessary preparations for the IPO for facilitating the participation of individual investors in the retail offering and benefiting from the investment opportunity that is presented by the listing of the Company on the Saudi Stock Exchange. Samba Capital explained that Leejam has appointed each of Samba Financial Group, Al Rajhi Bank, National Commercial Bank, Riyad Bank, Banque Saudi Fransi, Saudi British Bank and Arab National Bank as receiving agents for the IPO. The receiving agents will receive applications (starting today) from individual investors wishing to subscribe to the IPO of Leejam. Individual investors can subscribe through the receiving agents branches throughout the Kingdom and through their various electronic channels available around the clock during the retail subscription period. Retail investors can apply for a minimum of 10 shares, and a maximum of 250,000 shares. The final allocation of shares and refunds (if any) will take place on 14/08/2018.

Additional information (including the prospectus) is available on the websites of CMA (www.cma.org.sa), Leejam (www.leejam.com.sa) and Samba Capital (www.sambacapital.com).  

About LeejamSportsCompany: Leejam is the largest fitness centre operator in Saudi Arabia and the MENA region. It owns and operates fitness centres under the “Fitness Time” brand.    As of 31/12/2017, Leejam operated 112 fitness centres, with 108 fitness centres across 23 cities in Saudi Arabia and 4 fitness centres in the UAE. Furthermore, it had 31 fitness centres under development.  

About SambaCapital: Samba Capital is a leading investment management firm in Saudi Arabia.  Samba Capital offers a full suite of services including Corporate Finance & Investment Banking, Asset Management and Brokerage (Authorised by the Capital Market Authority, license no. 07069-37 and located in Kingdom Centre, King Fahd Road in Riyadh).