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Burgerrizr, which was founded in 2009 by Mohammad Al-Ruwaigh, says it is Saudi Arabia’s largest burger chain and has more than 80 outlets across the Kingdom.
The company plans to offer 725,000 shares, representing 29 percent of its SR25 million capital, it said in its prospectus on Thursday.
The subscription period will be from August 15 through August 23, while the final allocation of the offering shares will be announced on September 1, 2021, it said.
The offering process is being led by Emirates NBD Capital Saudi Arabia as financial adviser and lead manager, while AlSaleh and AlSahli Law Firm provides the services of legal adviser for the offering.
The Saudi Capital Market Authority (CMA) announced last June that it had approved the offering of Burgerizzr shares on the Nomu parallel market.
“The offering is a major step toward moving the company to new horizons and markets,” Chairman Mohammed Al-Ruwaigh said, according to the chain’s website.
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