01-05-2025
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)
