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Investing in the Essence of Life

We are leaders in water cycle management, operating across the circular water economy, serving municipal and industrial customers.

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About Miahona

About Miahona

Miahona is a Saudi joint-stock company that began operations in 2008 and was one of the first developers of water and wastewater infrastructure under the public-private partnership (“PPP”) model in the Kingdom of Saudi Arabia.

Headquartered in Riyadh, Saudi Arabia, the Company is one of the leaders in water cycle management, operating across the circular water economy, and serving municipal and industrial customers. With over 15 years of unique PPP experience, Miahona provides end-to-end solutions in the water sector with a presence across the complete water value chain including water production, water distribution, wastewater collection, wastewater treatment, TSE reuse , billing, collection & customer service.

The Company has a strong commitment to sustainability, by reducing water losses, increasing water recycling, and treating effluents and pollutants.

Miahona’s Business Segments

Concessions
0
%
Representing 92% of the Company’s revenue as of FY 2023.

The Concessions segment involves long-term contracts for the development and rehabilitation of water and wastewater treatment plants, where the Company is responsible for designing, constructing, and operating the plant.

Operation & Maintenance
0
%
Representing 8% of the Company’s revenue as of FY 2023.

The Operation & Maintenance involves short- to medium-term contracts for the operation and management of own and third-party projects.

Eng. Awaadh Al Otaibi

The CEO Message

Miahona has succeeded in achieving remarkable growth over the past years, which enhances its ability to benefit from the tremendous growth and development process witnessed by the Kingdom.

Private sector participation in the water and wastewater sector is one of the main pillars of economic transformation in the Kingdom.

Based on our leading position in the sector, we are confident in our ability to contribute to the development of new projects in the water and wastewater sector as part of this transformation and continued growth.

Eng. Awaadh Al Otaibi
Chief Executive Officer (CEO)
Miahona in Numbers

Miahona in Numbers

0
long-term concession contracts
0
major cities in KSA where Miahona is present
0
m3/day wastewater infrastructure
0
m3/day potable water infrastructure
0
(SAR) billion project backlog
0
%
Revenue CAGR (2021-2023)

Initial Public Offering (IPO)

Miahona intends to offer 30% of its share capital through an initial public offering (IPO) and listing of shares on the Main Market of the Saudi Exchange.

All the Offering Shares will be offered to institutional investors with a claw-back by the retail investors of up to 20%, as determined by the Joint Financial Advisors.

0
ordinary shares will be listed on the Saudi Exchange’s Main Market
0
%
of Miahona’s issued share capital of 160,925,543 shares offered by the current shareholders
0
%
or 48,277,663 Offer Shares will be offered to institutional investors
0
%
or 9,655,532 shares will be clawed back to be offered to retail investors
Initial Public Offering (IPO)

IPO Timeline 2024

  • 24Apr
    Miahona Drop Icon
    ITF, Prospectus Publication
  • 29Apr
    Miahona Drop Icon
    Price Range Announcement, Bookbuilding Start
  • 02May
    Miahona Drop Icon
    Bookbuilding End
  • 07May
    Miahona Drop Icon
    IPO Price Announcement, Provisional Allocation Notice
  • 09May
    Miahona Drop Icon
    Deadline to Submit Subscriptions
  • 13May
    Miahona Drop Icon
    Deadline to Fund Provisional Allocation
  • 21May
    Miahona Drop Icon
    Retail Offering Start
  • 22May
    Miahona Drop Icon
    Retail Offering End
  • 26May
    Miahona Drop Icon
    Final Allocation Notice
  • 30May
    Miahona Drop Icon
    Refunds
  • TBD
    Miahona Drop Icon
    Listing
24Apr
ITF, Prospectus Publication
29Apr
Price Range Announcement, Bookbuilding Start
02May
Bookbuilding End
07May
IPO Price Announcement, Provisional Allocation Notice
09May
Deadline to Submit Subscriptions
13May
Deadline to Fund Provisional Allocation
21May
Retail Offering Start
22May
Retail Offering End
26May
Final Allocation Notice
30May
Refunds
TBD
Listing

Investment Highlights

Fast growing and defensive sector
01

Fast growing and defensive sector

  • Miahona is a leading player in the water and wastewater sector in the Kingdom, with a proven track record of performance and commitment to innovation.
  • The first wastewater infrastructure project under the PPP model in Jeddah Industrial City is managed by Miahona.
  • With the first-mover advantage in the PPP sector, Miahona has six projects under long-term concessions with government and government-related entities and a further six projects on the Operation & Maintenance contract structure.
  • The total capacity of wastewater infrastructure projects portfolio is 1,026,500 m3/day and a network of 221 km (incl. Spark project: 326 km) and potable water infrastructure of 102,800 m3/day with a total network of 248 km (incl. Spark project: 342 km).
  • Miahona operates in a well-regulated industry, following the introduction of the National Water Strategy by the Ministry of Environment, Water and Agriculture in 2017.
  • The National Water Strategy aims to improve water and sanitation management and increase private sector participation, reducing non-revenue water to 25% (current average: 40%), increasing the percentage of water reuse from 17% in 2017 to 70% in 2030, increasing the coverage of water services from 87% to 95%.
Well-positioned for continued growth supported by a solid project pipeline
02

Well-positioned for continued growth supported by a solid project pipeline

  • Miahona is well positioned to benefit from the growing demand for water and wastewater services in the Kingdom, driven by specific factors such as population growth, urbanization, and the Kingdom’s water sector strategies within the framework of Vision 2030, including privatization projects, PPP, and regulatory changes.
  • The government has announced a solid pipeline of new water/wastewater projects to be tendered to the private sector and management believes Miahona is well placed to benefit, having been awarded or selected as the preferred bidder at a win rate of 80% in the last three years.
  • The Company's competitive strengths lie in its ability to develop projects, and in its ability to manage operations and maintenance of a broad base of assets and contracts with diversified cash flows across the project life cycle.
  • The overall impact of privatization, government initiatives regarding PPP, and macroeconomic factors create a large market opportunity for the Company to leverage its leading position and deep sector experience.
  • The Kingdom’s population is expected to grow at a rate of 3.6% to 38.4 million people in 2027, with water demand expected to increase from 5.2 billion cubic meters annually in 2022 to 5.9 billion cubic meters annually in 2027.
  • The company's major customer SWPC has announced a seven-year plan to increase sewage treatment capacity by ~2.3 million m³ by 2027. Despite this planned expansion, there remains a capacity gap of ~2 million m³ as identified in Vision 2030, which necessitates further investment. Consequently, there is a substantial market opportunity available for the company. The company intends to enhance its market share by leveraging this potential growth.
  • NWC, at the recent GWI conference, indicated a large pipeline of projects, which will demand substantial investment. The company aims to capture increased market share within this pipeline of projects.
  • NWC's six regional clusters are in phase 1 under Manage-Operate-Maintain (MOM) contracts with a 7-year tenure. These will transition to long-term concession arrangements in phase 2. The company has been awarded 2 MOM contracts in phase 1, enhancing its chances of success in the phase 2 tendering process. Phase 2 will encompass the entire water value chain and may have an expected term of over 30 years. Transitioning the six clusters will require an estimated additional investment of more than ~SAR 25 billion, offering substantial growth opportunities for the company.
  • Furthermore, the government’s target to increase water reuse to 70% (current level: 22%) will bring significant business opportunities. The Company is well positioned to capture market share of reuse.
Track record of operational excellence, backed by a diverse project portfolio
03

Track record of operational excellence, backed by a diverse project portfolio

  • Miahona is considered one of the leading private sector companies and was the first company in the Kingdom working to develop water and wastewater infrastructure according to the public-private partnership model, providing sustainable solutions for industrial and municipal facilities.
  • The Company is present across Saudi Arabia’s eight major cities and has operations that cover the entire water sector cycle from extraction and supply to collection and recycling.
  • With a commitment to operational excellence, the Company’s integrated model allows it to optimize its operations, reduce waste, and ensure consistent supply. For example, Miahona implemented a number of efficiency and productivity measures, with the percentage of water loss (leakage) reaching less than 10%, compared with the Kingdom’s Vision 2030 target of less than 25% and the current average in the Kingdom of 40%.
  • Miahona remains at the forefront of adopting new technologies and innovative solutions, partnering with internal expert teams such as development, technical, financial, legal, and project management.
  • Its proven track record and strong technical and operational know-how uniquely position Miahona to re-tender for its existing contracts at the time of renewal.

Fast growing and defensive sector

  • Miahona is a leading player in the water and wastewater sector in the Kingdom, with a proven track record of performance and commitment to innovation.
  • The first wastewater infrastructure project under the PPP model in Jeddah Industrial City is managed by Miahona.
  • With the first-mover advantage in the PPP sector, Miahona has six projects under long-term concessions with government and government-related entities and a further six projects on the Operation & Maintenance contract structure.
  • The total capacity of wastewater infrastructure projects portfolio is 1,026,500 m3/day and a network of 221 km (incl. Spark project: 326 km) and potable water infrastructure of 102,800 m3/day with a total network of 248 km (incl. Spark project: 342 km).
  • Miahona operates in a well-regulated industry, following the introduction of the National Water Strategy by the Ministry of Environment, Water and Agriculture in 2017.
  • The National Water Strategy aims to improve water and sanitation management and increase private sector participation, reducing non-revenue water to 25% (current average: 40%), increasing the percentage of water reuse from 17% in 2017 to 70% in 2030, increasing the coverage of water services from 87% to 95%.

Well-positioned for continued growth supported by a solid project pipeline

  • Miahona is well positioned to benefit from the growing demand for water and wastewater services in the Kingdom, driven by specific factors such as population growth, urbanization, and the Kingdom’s water sector strategies within the framework of Vision 2030, including privatization projects, PPP, and regulatory changes.
  • The government has announced a solid pipeline of new water/wastewater projects to be tendered to the private sector and management believes Miahona is well placed to benefit, having been awarded or selected as the preferred bidder at a win rate of 80% in the last three years.
  • The Company's competitive strengths lie in its ability to develop projects, and in its ability to manage operations and maintenance of a broad base of assets and contracts with diversified cash flows across the project life cycle.
  • The overall impact of privatization, government initiatives regarding PPP, and macroeconomic factors create a large market opportunity for the Company to leverage its leading position and deep sector experience.
  • The Kingdom’s population is expected to grow at a rate of 3.6% to 38.4 million people in 2027, with water demand expected to increase from 5.2 billion cubic meters annually in 2022 to 5.9 billion cubic meters annually in 2027.
  • The company's major customer SWPC has announced a seven-year plan to increase sewage treatment capacity by ~2.3 million m³ by 2027. Despite this planned expansion, there remains a capacity gap of ~2 million m³ as identified in Vision 2030, which necessitates further investment. Consequently, there is a substantial market opportunity available for the company. The company intends to enhance its market share by leveraging this potential growth.
  • NWC, at the recent GWI conference, indicated a large pipeline of projects, which will demand substantial investment. The company aims to capture increased market share within this pipeline of projects.
  • NWC's six regional clusters are in phase 1 under Manage-Operate-Maintain (MOM) contracts with a 7-year tenure. These will transition to long-term concession arrangements in phase 2. The company has been awarded 2 MOM contracts in phase 1, enhancing its chances of success in the phase 2 tendering process. Phase 2 will encompass the entire water value chain and may have an expected term of over 30 years. Transitioning the six clusters will require an estimated additional investment of more than ~SAR 25 billion, offering substantial growth opportunities for the company.
  • Furthermore, the government’s target to increase water reuse to 70% (current level: 22%) will bring significant business opportunities. The Company is well positioned to capture market share of reuse.

Track record of operational excellence, backed by a diverse project portfolio

  • Miahona is considered one of the leading private sector companies and was the first company in the Kingdom working to develop water and wastewater infrastructure according to the public-private partnership model, providing sustainable solutions for industrial and municipal facilities.
  • The Company is present across Saudi Arabia’s eight major cities and has operations that cover the entire water sector cycle from extraction and supply to collection and recycling.
  • With a commitment to operational excellence, the Company’s integrated model allows it to optimize its operations, reduce waste, and ensure consistent supply. For example, Miahona implemented a number of efficiency and productivity measures, with the percentage of water loss (leakage) reaching less than 10%, compared with the Kingdom’s Vision 2030 target of less than 25% and the current average in the Kingdom of 40%.
  • Miahona remains at the forefront of adopting new technologies and innovative solutions, partnering with internal expert teams such as development, technical, financial, legal, and project management.
  • Its proven track record and strong technical and operational know-how uniquely position Miahona to re-tender for its existing contracts at the time of renewal.

Fast growing and defensive sector

  • Miahona is a leading player in the water and wastewater sector in the Kingdom, with a proven track record of performance and commitment to innovation.
  • The first wastewater infrastructure project under the PPP model in Jeddah Industrial City is managed by Miahona.
  • With the first-mover advantage in the PPP sector, Miahona has six projects under long-term concessions with government and government-related entities and a further six projects on the Operation & Maintenance contract structure.
  • The total capacity of wastewater infrastructure projects portfolio is 1,026,500 m3/day and a network of 221 km (incl. Spark project: 326 km) and potable water infrastructure of 102,800 m3/day with a total network of 248 km (incl. Spark project: 342 km).
  • Miahona operates in a well-regulated industry, following the introduction of the National Water Strategy by the Ministry of Environment, Water and Agriculture in 2017.
  • The National Water Strategy aims to improve water and sanitation management and increase private sector participation, reducing non-revenue water to 25% (current average: 40%), increasing the percentage of water reuse from 17% in 2017 to 70% in 2030, increasing the coverage of water services from 87% to 95%.

Well-positioned for continued growth supported by a solid project pipeline

  • Miahona is well positioned to benefit from the growing demand for water and wastewater services in the Kingdom, driven by specific factors such as population growth, urbanization, and the Kingdom’s water sector strategies within the framework of Vision 2030, including privatization projects, PPP, and regulatory changes.
  • The government has announced a solid pipeline of new water/wastewater projects to be tendered to the private sector and management believes Miahona is well placed to benefit, having been awarded or selected as the preferred bidder at a win rate of 80% in the last three years.
  • The Company's competitive strengths lie in its ability to develop projects, and in its ability to manage operations and maintenance of a broad base of assets and contracts with diversified cash flows across the project life cycle.
  • The overall impact of privatization, government initiatives regarding PPP, and macroeconomic factors create a large market opportunity for the Company to leverage its leading position and deep sector experience.
  • The Kingdom’s population is expected to grow at a rate of 3.6% to 38.4 million people in 2027, with water demand expected to increase from 5.2 billion cubic meters annually in 2022 to 5.9 billion cubic meters annually in 2027.
  • The company's major customer SWPC has announced a seven-year plan to increase sewage treatment capacity by ~2.3 million m³ by 2027. Despite this planned expansion, there remains a capacity gap of ~2 million m³ as identified in Vision 2030, which necessitates further investment. Consequently, there is a substantial market opportunity available for the company. The company intends to enhance its market share by leveraging this potential growth.
  • NWC, at the recent GWI conference, indicated a large pipeline of projects, which will demand substantial investment. The company aims to capture increased market share within this pipeline of projects.
  • NWC's six regional clusters are in phase 1 under Manage-Operate-Maintain (MOM) contracts with a 7-year tenure. These will transition to long-term concession arrangements in phase 2. The company has been awarded 2 MOM contracts in phase 1, enhancing its chances of success in the phase 2 tendering process. Phase 2 will encompass the entire water value chain and may have an expected term of over 30 years. Transitioning the six clusters will require an estimated additional investment of more than ~SAR 25 billion, offering substantial growth opportunities for the company.
  • Furthermore, the government’s target to increase water reuse to 70% (current level: 22%) will bring significant business opportunities. The Company is well positioned to capture market share of reuse.

Track record of operational excellence, backed by a diverse project portfolio

  • Miahona is considered one of the leading private sector companies and was the first company in the Kingdom working to develop water and wastewater infrastructure according to the public-private partnership model, providing sustainable solutions for industrial and municipal facilities.
  • The Company is present across Saudi Arabia’s eight major cities and has operations that cover the entire water sector cycle from extraction and supply to collection and recycling.
  • With a commitment to operational excellence, the Company’s integrated model allows it to optimize its operations, reduce waste, and ensure consistent supply. For example, Miahona implemented a number of efficiency and productivity measures, with the percentage of water loss (leakage) reaching less than 10%, compared with the Kingdom’s Vision 2030 target of less than 25% and the current average in the Kingdom of 40%.
  • Miahona remains at the forefront of adopting new technologies and innovative solutions, partnering with internal expert teams such as development, technical, financial, legal, and project management.
  • Its proven track record and strong technical and operational know-how uniquely position Miahona to re-tender for its existing contracts at the time of renewal.
De-risked business model underpinned by long-term contracts
04

De-risked business model underpinned by long-term contracts

  • Miahona has well-established capabilities in construction, ownership, operation and transfer agreements, or rehabilitation, operation and maintenance agreements in the municipal and industrial sectors, whether independently or with partners.
  • The Company has a strong client base, including the Saudi Water Partnership Company (“SWPC”), the National Water Company(“NWC”), the Saudi Authority for Industrial Cities and Technology Zones (“MODON”), the General Authority of Civil Aviation (“GACA”), and industrial companies such as Saudi Aramco.
  • Miahona has high visibility over its future cash flow, with the Company’s six concession contracts having a typical length of between 20 and 30 years, accounting for over 92% of revenue as of FY 2023.
  • Management believes that the Company's business model is low risk and provides it with a solid foundation for further growth, with long-term and predictable cash flows. When the Company invests its own capital, it manages risks through:
    • focusing on fully contracted long-term opportunities.
    • most contracts including risk mitigation provisions such as for inflation, protection due to changes in laws, and operating costs charged to the client; and
    • low credit risk due to the contractors being either government or government-backed entities.
Secured, highly attractive returns based on a solid project backlog
05

Secured, highly attractive returns based on a solid project backlog

  • Miahona believes that it develops, invests and operates a business model that allows it to achieve total returns significantly above its cost of capital or hurdle rate (minimum acceptable rate of return) across its services and portfolio.
  • This business model supports the Company's ability to maximize price competitiveness by allocating the required total return across different value streams of development, investment, and operation.
  • Miahona also aims to adopt an optimal financing model for each project, using non-recourse project financing loans, with the aim of reducing the cost of financing each project and improving the risk/return profile for its shareholders.
  • The Company has a healthy backlog, which has grown steadily in recent years. The current total project backlog is SAR 11.3 billion, which includes an existing backlog of SAR 5.9 billion and a secured project backlog of SAR 5.4 billion.
Financial stability providing flexibility to support future growth
06

Financial stability providing flexibility to support future growth

  • Miahona has delivered strong financial results over the last three years, achieving revenue CAGR of 12.3% between 2021 and 2023, and EBITDA margin has grown from 36.9% to 43.8% during this time period.
  • Management believes that the Company’s streamlined operations allow for sustainable profit generation, with a strong and improving EBITDA signaling increased operational efficiency through economies of scale.
  • Miahona has a proven ability to sustainably fund operations and capitalize on growth opportunities.

De-risked business model underpinned by long-term contracts

  • Miahona has well-established capabilities in construction, ownership, operation and transfer agreements, or rehabilitation, operation and maintenance agreements in the municipal and industrial sectors, whether independently or with partners.
  • The Company has a strong client base, including the Saudi Water Partnership Company (“SWPC”), the National Water Company(“NWC”), the Saudi Authority for Industrial Cities and Technology Zones (“MODON”), the General Authority of Civil Aviation (“GACA”), and industrial companies such as Saudi Aramco.
  • Miahona has high visibility over its future cash flow, with the Company’s six concession contracts having a typical length of between 20 and 30 years, accounting for over 92% of revenue as of FY 2023.
  • Management believes that the Company's business model is low risk and provides it with a solid foundation for further growth, with long-term and predictable cash flows. When the Company invests its own capital, it manages risks through:
    • focusing on fully contracted long-term opportunities.
    • most contracts including risk mitigation provisions such as for inflation, protection due to changes in laws, and operating costs charged to the client; and
    • low credit risk due to the contractors being either government or government-backed entities.

Secured, highly attractive returns based on a solid project backlog

  • Miahona believes that it develops, invests and operates a business model that allows it to achieve total returns significantly above its cost of capital or hurdle rate (minimum acceptable rate of return) across its services and portfolio.
  • This business model supports the Company's ability to maximize price competitiveness by allocating the required total return across different value streams of development, investment, and operation.
  • Miahona also aims to adopt an optimal financing model for each project, using non-recourse project financing loans, with the aim of reducing the cost of financing each project and improving the risk/return profile for its shareholders.
  • The Company has a healthy backlog, which has grown steadily in recent years. The current total project backlog is SAR 11.3 billion, which includes an existing backlog of SAR 5.9 billion and a secured project backlog of SAR 5.4 billion.

Financial stability providing flexibility to support future growth

  • Miahona has delivered strong financial results over the last three years, achieving revenue CAGR of 12.3% between 2021 and 2023, and EBITDA margin has grown from 36.9% to 43.8% during this time period.
  • Management believes that the Company’s streamlined operations allow for sustainable profit generation, with a strong and improving EBITDA signaling increased operational efficiency through economies of scale.
  • Miahona has a proven ability to sustainably fund operations and capitalize on growth opportunities.
Strong corporate governance and highly experienced management team
07

Strong corporate governance and highly experienced management team

  • Miahona’s management team comprises individuals with deep operational experience and executive capabilities gained through their work with the Company, and within the professional services and sector-related entities.
  • The Company has invested effectively in its internal capabilities and its team includes multidisciplinary and multicultural professionals with technical expertise in project financing, construction supervision, legal, procurement, and other services.
  • Miahona has a robust corporate governance framework in place with a well-structured Board of Directors, Audit committee, Executive committee, and Nominations & Remunerations committee.

Strong corporate governance and highly experienced management team

  • Miahona’s management team comprises individuals with deep operational experience and executive capabilities gained through their work with the Company, and within the professional services and sector-related entities.
  • The Company has invested effectively in its internal capabilities and its team includes multidisciplinary and multicultural professionals with technical expertise in project financing, construction supervision, legal, procurement, and other services.
  • Miahona has a robust corporate governance framework in place with a well-structured Board of Directors, Audit committee, Executive committee, and Nominations & Remunerations committee.

De-risked business model underpinned by long-term contracts

  • Miahona has well-established capabilities in construction, ownership, operation and transfer agreements, or rehabilitation, operation and maintenance agreements in the municipal and industrial sectors, whether independently or with partners.
  • The Company has a strong client base, including the Saudi Water Partnership Company (“SWPC”), the National Water Company(“NWC”), the Saudi Authority for Industrial Cities and Technology Zones (“MODON”), the General Authority of Civil Aviation (“GACA”), and industrial companies such as Saudi Aramco.
  • Miahona has high visibility over its future cash flow, with the Company’s six concession contracts having a typical length of between 20 and 30 years, accounting for over 92% of revenue as of FY 2023.
  • Management believes that the Company's business model is low risk and provides it with a solid foundation for further growth, with long-term and predictable cash flows. When the Company invests its own capital, it manages risks through:
    • focusing on fully contracted long-term opportunities.
    • most contracts including risk mitigation provisions such as for inflation, protection due to changes in laws, and operating costs charged to the client; and
    • low credit risk due to the contractors being either government or government-backed entities.

Secured, highly attractive returns based on a solid project backlog

  • Miahona believes that it develops, invests and operates a business model that allows it to achieve total returns significantly above its cost of capital or hurdle rate (minimum acceptable rate of return) across its services and portfolio.
  • This business model supports the Company's ability to maximize price competitiveness by allocating the required total return across different value streams of development, investment, and operation.
  • Miahona also aims to adopt an optimal financing model for each project, using non-recourse project financing loans, with the aim of reducing the cost of financing each project and improving the risk/return profile for its shareholders.
  • The Company has a healthy backlog, which has grown steadily in recent years. The current total project backlog is SAR 11.3 billion, which includes an existing backlog of SAR 5.9 billion and a secured project backlog of SAR 5.4 billion.

Financial stability providing flexibility to support future growth

  • Miahona has delivered strong financial results over the last three years, achieving revenue CAGR of 12.3% between 2021 and 2023, and EBITDA margin has grown from 36.9% to 43.8% during this time period.
  • Management believes that the Company’s streamlined operations allow for sustainable profit generation, with a strong and improving EBITDA signaling increased operational efficiency through economies of scale.
  • Miahona has a proven ability to sustainably fund operations and capitalize on growth opportunities.

Strong corporate governance and highly experienced management team

  • Miahona’s management team comprises individuals with deep operational experience and executive capabilities gained through their work with the Company, and within the professional services and sector-related entities.
  • The Company has invested effectively in its internal capabilities and its team includes multidisciplinary and multicultural professionals with technical expertise in project financing, construction supervision, legal, procurement, and other services.
  • Miahona has a robust corporate governance framework in place with a well-structured Board of Directors, Audit committee, Executive committee, and Nominations & Remunerations committee.
FAQ

FAQs

Get the Answers
to Common Questions

Where does Miahona plan to list?

The Shares will be listed on the Main Market of the Saudi Exchange.

Please contact one of the selling agents listed below:

Saudi Fransi Capital and EFG Hermes KSA as the Joint Financial Advisors, Joint Bookrunners, and co-underwriters, can advise you on the process to invest.

Further details will be disclosed in the prospectus in due course. We also recommend discussing your investment-related queries with your financial advisor.

Subscription to the offer is available to:

1.Participating Parties: this tranche comprises investors eligible to participate in the book-building process following instructions for the Book-building Process and Allocation Method in Initial Public Offerings as issued by the Capital Market Authority (“CMA”).

2.Individual Investors: This tranche includes Saudi natural persons, any non-Saudi natural person who is resident in the Kingdom as well as any non-Saudi natural person residing in the Kingdom, or citizens of GCC states who have a bank account with one of the Receiving Agents and are entitled to open an investment account with a Capital Market Institution.

The final Offer Price will be determined after the book-building process, and before the beginning of the subscription period for Individual Investors.

Useful Resources

Receiving Agents

saudi fransi capital
MPQ9+G3, King Abdulaziz Rd, Al Wizarat, P.O. Box 12622, Riyadh 11554, Saudi Arabia
Riyad bank
Riyad Bank, Eastern Ring Road, P.O. Box 22622, Riyadh 11614, Kingdom of Saudi Arabia

Contacts

saudi fransi capital
Lead Manager, Joint Financial Advisor, Joint Bookrunner and Co-Underwriter
EFG Hermes
Joint Financial Advisor, Joint Bookrunner and Co-Underwriter
FGS Global
Communication Advisor