ASAS Makeen debuts on Nomu at SAR 80/shr today
Shares of ASAS Makeen Real Estate Development Co. start trading on the Nomu-Parallel Market today, June 16, under the symbol 9640 and ISIN Code SA16AH84MK14, at SAR 80 apiece.
The stock will trade with daily and static price fluctuation limits of +/-30% and +/-10%, respectively.
For More IPOs
The company floated 10% of its SAR 100 million capital, one million shares, on Nomu. The offering was nearly 1949% covered.
This is the 16th listing on Nomu in 2025, following Shmoh Almadi Co. debut on Jan. 13, ITMAM Consulting Co. on Jan. 23, Alshehili Co. for Metal Industries and Twareat Medical Care Co. on Jan. 29, Basma Adeem Medical Co. (Smile Care) on Feb. 3, Lamasat Co. on Feb. 9, Hedab Alkhaleej on March 5, RATIO on March 9, Future Vision for Health Training Co. on April 27, Service Equipment Co. on May 4, Dkhoun National Trading Co. on May 20, Adeer Real Estate Co. on May 26, and Axelerated Solutions for Information and Communication Technology Co. on June 1, Al Khuzama Trading Co. on June 2, and Anmat Te chnology for Trading C o. on June 11.
Last year, Nomu witnessed 30 IPOs, including three direct listings and 27 offerings to qualified investors.
This listing brings the number of Nomu firms to 120, in addition to Alwaha REIT Fund.
Company Profile
ASAS Makeen was established as a limited liability company in 2011 in Riyadh. It later transformed into a closed Saudi joint-stock company.
Its current actual business activity is developing and investing in lands through the construction, marketing, and leasing of real estate units, commercial complexes, and office buildings on plots owned by the company or third parties.
Company Shareholders
Shareholders
Pre-IPO
Post-IPO
No. of Shares
('000)
Ownership (%)
No. of Shares
('000)
Ownership (%)
Abdulrahman bin Saud Abdulrahman Al-Hadlaq
9600
96%
8640
86.4%
Anas bin Saud Abdulrahman Al-Hadlaq
400
4%
360
3.6%
Qualified investors
--
--
1000
10%
Total
10000
100%
10000
100%
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