Latest news with #NOMU
Zawya
02-05-2025
- Business
- Zawya
Market uncertainty won't slow Saudi IPO momentum: 46 listings expected
Saudi Arabia's IPO momentum continues to gain traction despite market uncertainty stemming from US tariffs and trade tensions in several international markets, which have derailed plans for a wave of new listings expected this year. According to Riyad Capital, the kingdom remains on track with close to 46 offerings expected in 2025, across Saudi's Main Market and the Parallel Market, Nomu. Speaking with Zawya, Muhammad Faisal Potrik, Head of Sell-Side Research, Riyad Capital pointed out that last year, the Saudi Main Market saw a total of 14 IPOs, adding: 'We expect the number of IPOs in 2025 to be similar to last year, in the range of 14 to16 [listings]. Sectors will continue to be diverse ranging from financial services, real estate, retail, technology, and aviation.' Investor appetite in the Gulf is evolving, with the first quarter for Saudi closing with five milestone offerings on its Main Market across a range of sectors, three of which were completed this year, including brokerage Derayah Financial, developer Umm Al Qura, and poultry producer Entaj, which raised more than $1 billion between them. The kingdom's parallel market has continued with its flurry of dealmaking, with Potrik saying that following on from last year, which closed with 28 IPOs on NOMU, the first quarter of 2025 remained just as strong with seven listings. In February, Saudi Arabia's Capital Markets Authority regulator further announced it had greenlit five NOMU IPOs, including school operator Dome International, Asas Makeen Real Estate Development and Investment Company, Dkhoun National Trading Company, Axelerated Solutions for Telecommunications and Information Technology Co. and Al Kuzama Trading Company. Market uncertainty Despite a positive outlook, investors have been jittery in recent weeks with oil prices falling to a two-week low on Tuesday, while many others are bracing for OPEC+ to boost output and US tariffs to cause a further slowdown in demand for fuel. While Potrik admits that trade tensions and market uncertainty, fuelled by US President Donald Trump's global tariffs, have slowed dealmaking, the bank continues to retain a 'positive view' on the Saudi market for FY 2025. 'While subdued oil price is broadly a challenge for the economy, oil as a commodity has continued to fluctuate historically. What is important to highlight is that the Saudi economy is much more diversified now and the contribution of the non-oil sector is much greater than in the past. Also, we do not expect any material impact to the ongoing projects in the kingdom, which will continue to drive economic growth,' he said. For 2025, Riyad Capital estimates an overall GDP growth of more than 3%, while non-oil growth will remain strong, above 4%. Potrik also dismissed the notion that the market could see some hesitation in moving ahead with planned listings. 'Despite volatile markets and economic fluctuations, the IPO momentum has been very strong at the Tadawul for the past five years,' he said. 'We do not expect any delays in IPOs as there is huge pent-up demand from both local and foreign investors for quality companies in sectors that are not adequately represented at the Tadawul. Thus, good names in, for example, the financial services or aviation or retail sectors are awaited by investors. Furthermore, the economic outlook for Saudi Arabia is far more stable than other countries.' In the pipeline for Saudi is the much-anticipated IPO for budget airline flynas, which was cleared for take-off in March. The carrier, which is backed by Saudi billionaire Prince Alwaleed Bin Talal, has a planned float to sell a 30% stake, according to the Saudi CMA. (Reporting by Bindu Rai, editing by Seban Scaria)
Zawya
01-05-2025
- Business
- Zawya
Saudi IPO momentum continues with two firms announcing NOMU listing plans
Two Saudi Arabian firms have announced plans to proceed with IPOs on the parallel market NOMU in the coming weeks. Saudi Arabia's education services provider Dome International Investment Company's float represents 14.53% of the company's share capital, comprising 850,000 shares, with the offering period to run from May 19, 2025 until May 26, 2025. Watheeq Capital Company has been appointed as financial advisor on the potential offering. Founded in 2016, Dome International runs schools and accredited educational testing centres across the kingdom. The company received approval from the Captial Markets Authority in March. Asas Makeen Real Estate Development and Investment Company has also published its prospectus for a NOMU IPO, offering 1 million shares, which represent 10% of the share capital. The price will be determined after the book-building period, with the offering period to begin on May 19, 2025, and end on May 25, 2025. Yaqeen Capital Company has been appointed as the financial advisor and lead manager on the offering. The latest IPO announcements joins a growing list of companies that have received approval from Saudi Arabia's Capital Markets Authority regulator for the month of May. Other companies in the pipeline include Dkhoun National Trading Company, Axelerated Solutions for Telecommunications and Information Technology Co. and Al Kuzama Trading Company. (Writing by Bindu Rai, editing by Seban Scaria)
Leaders
24-03-2025
- Business
- Leaders
Saudi Stock Market Ends Trading Day in Positive Territory
The Saudi Stock Exchange's benchmark index, TASI, rose by 83.31 points (0.71%) to close at 11,778.08 on Tuesday, supported by a trading turnover of SAR 4.2 billion. The Saudi Press Agency reported that 229 million shares changed hands during the session, with 123 listed companies advancing and 109 declining. Meanwhile, the parallel market index, NOMU, also gained momentum, climbing 75.17 points (0.25%) to finish at 30,610.63. Trading activity in NOMU reached SAR 36 million, with 2.5 million shares traded. Related Topics : Saudi Stock Market Soars in 2024: ACWA Power, Al Rajhi Lead the Growth 'Tanmia' stock jumps 30% with the start of its trading in the Saudi market Saudi stock market ends Wednesday in green on back of Kingdom's budget Renard Expects 'no Let-Up from Japan' as Saudi Arabia Chase World Cup Spot Short link : Post Views: 3 Related Stories
Leaders
10-03-2025
- Business
- Leaders
Tadawul Ends Trading Day Down at 11,745.63 Points
The Tadawul All Share Index (TASI) concluded today's trading session down by 90.89 points, finishing at 11,745.63 points. The total trading turnover for the day stood at SAR 5.3 billion. As reported in the Saudi Press Agency's daily economic update, approximately 259 million shares were traded during the session. Among the listed companies, 52 saw their share prices rise, while 192 experienced declines. In parallel, the Nomu Parallel Market Index (NOMU) also saw a downturn, shedding 300.45 points to close at 31,031.37 points. Trading activity on NOMU amounted to SAR 40 million, with over 3 million shares changing hands. Short link : Post Views: 16 Related Stories
Leaders
04-03-2025
- Business
- Leaders
TASI Closes Lower at 11,931 Points
The Saudi Stock Exchange Main Index (TASI) closed lower today by 192.11 points, settling at 11,931.70 points, with a total trading value of SAR 6.4 billion. According to the Saudi Press Agency's daily economic bulletin, the volume of traded shares reached 252 million, with 47 companies recording gains, while 202 companies closed lower. Meanwhile, the Saudi Parallel Market Index (NOMU) also declined, dropping 161.93 points to settle at 31,534.04 points. Trading in NOMU reached SAR 24 million, with more than two million shares exchanged. Related Topics : Saudi Stock Market Soars in 2024: ACWA Power, Al Rajhi Lead the Growth KACST Grants 2 Licenses for Modular Construction, Carbon Nanotube Commercialization Saudi Stock Exchange Introduces Single-Stock Options: New Era for Investors Tense Exchange: What to Know about Trump-Zelensky White House Clash? Short link : Post Views: 93 Related Stories
