Adeer Real Estate shares gain 4.9% in Nomu market debut
Riyadh – Shares of Adeer Real Estate closed higher by 4.9% on Monday, in their first trading session on Saudi Arabia's Nomu – Parallel Market, ending the day at SAR 89.20, up SAR 4.20. The stock saw trading volumes reach 174,951 shares, with a total turnover of approximately SAR 16.6 million, executed through 730 transactions.
The company, which operates in real estate marketing and property management, had announced the listing of 1 million shares, representing 20% of its capital of SAR 50 million. The offering achieved an oversubscription rate of 679.7%, reflecting strong investor appetite. The shares were listed under the ticker symbol 9634, with the international ISIN SA16A1AKMH11.
Strategic Milestone
Speaking on the occasion, Muteb Hamad Al Saad, CEO and Managing Director of Adeer Real Estate, described the listing as a 'strategic milestone' in the company's growth journey.
'Entering the Nomu market enables us to strengthen our market position and broaden our services in the real estate sector,' he said, adding that Adeer is focused on offering specialized real estate marketing services that support urban development and respond to market and investor needs.
Al Saad also highlighted the company's alignment with Saudi Vision 2030, stating:
'We are proud to play a role in supporting national economic diversification and enhancing the efficiency of key sectors, particularly real estate.'
He further emphasized Adeer's commitment to governance, transparency, and innovation, stating that the company aims to build sustainable value for shareholders. Al Saad extended his thanks to the Capital Market Authority, Saudi Tadawul Group, and the Real Estate General Authority for their support throughout the listing process.
Expansion Beyond Borders
Commenting on the listing, Eng. Bassel El-Serafy, CEO of Adeer International, stated that the move will allow the company to diversify its funding sources and contribute to the development of the Kingdom's capital markets.
He revealed that the group plans to list part of its shares on the Egyptian Exchange within the next five years and is preparing several subsidiaries for listing either on Egypt's main market or NILEX, depending on the size and strategic focus of each entity.
About Adeer Real Estate
Founded in 2012 in Saudi Arabia's Eastern Province, Adeer Real Estate operates across real estate marketing, sales (including direct sales, auctions, and sales centers), and property management. The company follows sustainable practices in maintenance and operational reporting.
The company's ownership structure is led by Sumou International Investment Company with a 60% stake. The remaining 40% is held equally among four individual shareholders, with a 20% free float now available on the Nomu market following the IPO.
About Adeer International
Adeer International, a Saudi-owned company, began its international operations in 2021, first establishing a presence in London, followed by expansions into Egypt and Turkey. The company currently operates in the Egyptian market and manages diversified investment portfolios for more than 4,000 investors worldwide through real estate funds and other investment vehicles.
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