Latest news with #AsasMakeen
Zawya
3 days ago
- Business
- Zawya
Asas Makeen's Saudi IPO 19 times oversubscribed, raises $415mln
The initial public offering (IPO) of Saudi Arabia's Asas Makeen Real Estate Development and Investment Company has been oversubscribed by more than 19 times, as investors capitalise on the kingdom's real estate boom. The offering, which ran from May 19 to 25, 2025, received bids for nearly 19.5 million shares, raising a total of more than SAR 1.56 billion ($415 million), according to Yaqeen Capital, the financial advisor and lead manager for the IPO. The company had offered a 10% stake or one million shares on the Saudi Stock Exchange Parallel Market Nomu, with the offering price set at SAR 80 per share. The listing of the company's shares on Nomu will be determined after the required procedures with the Saudi Stock Exchange are finalised. The Saudi real estate market has demonstrated strong momentum, with transaction volumes reaching $29 billion during the first three months of the year, according to CBRE Middle East. The growth has been supported by government initiatives and heightened investor confidence. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
12-05-2025
- Business
- Zawya
Saudi Arabia's Asas Makeen to raise $21mln from Nomu listing
Asas Makeen Real Estate Development and Investment Company (Asas Makeen) will raise 80 million Saudi riyals ($21.32 million) from its listing on the Nomu Parallel Market. The offering price has been set at SAR 80 per share. The company is selling one million shares, representing 10% of its capital post-IPO, to qualified investors. The minimum subscription amount has been fixed at 10 shares and a maximum of 499,990 shares. The bidding and book-building period will start on May 19 and end on May 25. Yaqeen Capital has been appointed as the financial advisor and lead manager on the offering. Asas Makeen is into real estate development, with projects ranging from luxury apartments and villas to townhouses. (Editing by Bindu Rai)
