Latest news with #NomuParallelMarket
Argaam
27-05-2025
- Business
- Argaam
Dome extends subscription period to end June 1
Dome International for Investment Co. extended the subscription period on Nomu-Parallel Market to June 1, 2025, financial advisor Watheeq Capital said in a statement to Tadawul. The company published a supplementary prospectus that included an amendment to the offering period, which now spans 10 business days, ending on June 1, 2025. The dates for announcing the final allocation and refunding any excess funds, if applicable, were also amended. IPO Summary After Amendment Issue Percentage 14.53% of post-IPO capital (17% pre-IPO capital) Offered Shares 850,000 Offer Period May 19-June 1, 2025 Final Allocation June 3, 2025 Surplus Refund (if any) June 4, 2025 Qualified investors began subscribing to 850,000 shares of Dome International on the Nomu-Parallel Market on May 19, according to Argaam data. The price was set at SAR 42 per share, and the subscription period was set to run for six business days to end May 26. Dome International has SAR 50 million in capital, divided into five million shares at a par value of SAR 10 each. The company's capital will reach SAR 58.5 million after the IPO, divided into 5.85 million shares.
Arabian Post
04-05-2025
- Business
- Arabian Post
Saudi IPO Pipeline Defies Global Headwinds as Kingdom Targets 46 Listings in 2025
Saudi Arabia is set to maintain its robust initial public offering momentum in 2025, with Riyad Capital projecting up to 46 listings across the Main Market and the Nomu Parallel Market. This outlook comes despite global market volatility driven by US tariffs and trade tensions that have dampened IPO activity in other regions. Muhammad Faisal Potrik, Head of Sell-Side Research at Riyad Capital, noted that the Saudi Main Market witnessed 14 IPOs last year and anticipates a similar range of 14 to 16 listings in 2025. The sectors expected to feature prominently include financial services, real estate, retail, technology, and aviation. In 2024, the Kingdom led the Gulf Cooperation Council IPO market, raising $4.1 billion through 42 offerings, according to data from The Kuwait Financial Centre . This accounted for 31% of the region's total IPO proceeds, making Saudi Arabia the second-largest contributor after the UAE. The Saudi Exchange, Tadawul, hosted 14 IPOs on its main market, collectively raising $3.8 billion, while the Nomu Parallel Market saw 28 IPOs, generating $297 million. Notable listings included Dr. Soliman Abdel Kader Fakeeh Hospital, which was oversubscribed 119 times with orders worth $91 billion, and other companies like Almoosa Health, Miahona Utilities, and Nice One Beauty Digital Marketing, reflecting strong investor confidence. The aviation sector is also poised for significant activity, with the Capital Market Authority approving the IPO of flynas, a budget airline backed by Prince Alwaleed Bin Talal. The company plans to sell a 30% stake and aims to expand its fleet to 160 aircraft by 2030. See also Gender Disparities in Influencer Earnings Unveiled Riyad Capital anticipates an 8% growth in Saudi market earnings in 2025, driven by factors such as declining interest rates, favorable global market responses, and stronger earnings growth in sectors like banking, technology, media, communications, and emerging industries. This positive sentiment is expected to bolster IPO activity further. The Kingdom's capital market reforms, including the introduction of new financial products like options and futures on Tadawul, have enhanced market depth and attracted increased institutional investor participation. These developments, coupled with ongoing privatization efforts and the government's commitment to economic diversification under Vision 2030, are expected to sustain the IPO momentum. Saudi Arabia's focus on sectors such as healthcare, technology, and consumer services aligns with global investment trends and positions the Kingdom as a competitive destination for international investors. The continued liberalization of foreign ownership rules and the inclusion of Saudi markets in global indices further enhance its appeal.
Zawya
25-03-2025
- Business
- Zawya
Saudi SMEs throng to list on Nomu as they seek funding
A string of small and medium enterprises (SMEs) in Saudi Arabia has secured the kingdom's Capital Market Authority's approval this year to register and offer shares on the Nomu Parallel Market. Among the latest are WinVeston Saudi Equity Quant Fund, Rawabi Marketing International Company, Wajd Life Trading Co., and Afaq Al Arabiya for Transportation & Storage Co. Last week, Marketing Home Group Company, Qudra for Communications and Information Technology Co. and Hawyia Auctions Co. also won approvals to go ahead with a Nomu listing. One of the main aims of setting up the alternative market was to increase the number of listed companies in Saudi Arabia. Total capitalisation for Nomu as of end 2024 was at 58.86 billion riyals ($15.7 billion). This compares with SAR10.2 trillion for the main market. Nomu issuers can opt for direct listing and then sell shares on the exchange. The bourse saw 28 IPOs in 2024, while there three direct listings, according to the Saudi Exchange. 'Companies operating in the SME segment are encouraged to grow and are hence looking for financing and they are in turn resorting to both the debt (where the local banks are quite interested to provide support, especially under the government-sponsored Kafala programme) and the equity markets,' Sara Boutros, an analyst at CI Capital said. The Nomu market is underpinned by Saudi investors, who account for about 96% of the free float. Of this, retail investors hold around 65%. 'Investors are always on the hunt for new investment ideas and for the ones who are more flexible on criteria including size and traded values, Nomu offers some interesting stories. We have also seen several companies migrating to Tadawul after they satisfy the requirements; which is also quite appealing to potential investors,' said Boutros. In 2024, three companies transferred from the parallel market to the main, according to a bourse report. Meanwhile, Riyadh's main exchange has already seen four IPOs completed this year: Almoosa, Nice One, Derayah Financial, and Arabian Company for Agricultural and Industrial Investment (Entaj). The fifth, Umm Al Qura, a real estate developer, started trading on the main stock exchange on Monday. A 2025 outlook by Saudi brokerage Al Rajhi Capital estimates the kingdom could witness between 50 to 60 IPOs over the next two years, with seven already approved or closed, while 97 IPOs remain under review. (Reporting by Brinda Darasha; editing by Seban Scaria)
Gulf Business
11-02-2025
- Business
- Gulf Business
54 IPOs raised $12.6bn in 2024 in MENA region, shows report
Image: Getty Images The Middle East and North Africa (MENA) region saw a notable surge in initial public offerings (IPOs) in 2024, with 54 listings raising a total of $12.6bn, according to the EY MENA IPO Eye Q4 2024 report. This marks a 12.5 per cent increase in the number of IPOs and a 17.6 per cent rise in proceeds compared to the previous year. Q4 Surge: 32 per cent more IPOs, 59 per cent higher proceeds According to the The spike in proceeds was driven by high-value IPOs such as Talabat Holding plc, OQ Exploration & Production, and Lulu Retail Holdings, which listed during the final quarter of the year. Talabat, which went public on the Dubai Financial Market (DFM), raised the largest amount of proceeds in Q4, contributing 25.8 per cent of the total quarterly funds. The second-largest IPO came from OQ Exploration & Production, which raised $2bn in the largest-ever IPO in Oman. Together, these two listings accounted for nearly half of the total Q4 proceeds. Outside the GCC, Morocco's Compagnie Marocaine de goutte a goutte et de pompage (CMGP) and Egypt's United Bank also made their market debuts during Q4. Saudi Arabia leads the pack with 17 listings in Q4 Saudi Arabia continues to dominate the region's IPO activity. In Q4 2024, the kingdom accounted for 17 of the 25 IPOs, raising a total of $1.2bn. Of these, five listings took place on the Tadawul Main Market, collectively raising $1.1bn. The highest proceeds came from Arabian Mills for Food Products Company and United International Holding Company, each raising $300m. In total, IPO activity in Saudi Arabia was driven by a diverse range of sectors, including commercial and professional services (20 per cent), materials (12.5 per cent), food and beverages (10 per cent), and healthcare (10 per cent). UAE's robust performance and ESG focus The UAE saw strong IPO activity as well, with four new listings during Q4 2024. On the Abu Dhabi Securities Exchange (ADX), Lulu Retail Holdings PLC raised $1.7bn and ADNH Catering PLC raised $235m. Additionally, the DFM welcomed Talabat Holding plc, which raised $2bn, continuing the trend of high-value listings in the region. As the UAE moves toward its net-zero 2050 target, the country has also introduced a law requiring businesses to report carbon emissions, starting in May 2025. The law aims to encourage companies to adopt decarbonisation strategies, including renewable energy and carbon offsetting. This emphasis on sustainability is expected to play a key role in shaping IPO market dynamics as companies align with the UAE's environmental goals. Positive outlook for 2025 IPOs in MENA region Looking ahead, the MENA IPO market is poised for continued growth. EY's Gregory Hughes, IPO and transaction diligence leader, noted that Q4 2024 accounted for 46 per cent of the total IPO activity in the region for the year, underscoring the strong momentum. Saudi Arabia's Nomu Parallel Market remains a key driver, accounting for 50 per cent of Q4 listings. In 2025, 38 companies and 22 funds are expected to list across the region's exchanges. Among the GCC countries, Saudi Arabia leads with 27 companies in the pipeline, followed by the UAE with three and Qatar with one. Companies such as The MENA IPO market is expected to remain a key player globally as regional exchanges continue to innovate and attract investors with strong governance and sustainability initiatives. Brad Watson, EY MENA strategy and transactions leader, says: 'The year 2024 ended on a strong note with 54 IPOs in total, the highest in MENA over the past seven years. The region has been one of the busiest when compared to the global market. The momentum is expected to continue into 2025, with companies from various sectors announcing their intention to come to market. 'In addition, regional exchanges are actively working on initiatives to promote family-owned businesses and small to medium enterprises, aiming to strengthen the capital markets infrastructure and boost future liquidity. The market is also anticipating the Arena platform from the DFM, which is expected to launch in 2025.' Read:
