Latest news with #YaqeenCapital
Zawya
2 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)
Argaam
3 days ago
- Business
- Argaam
ASAS Makeen IPO on Nomu 1949% covered
Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of ASAS Makeen Real Estate Development Co., announced the completion of the offering on the Nomu -Parallel Market, which was 1949.5% oversubscribed at SAR 80 a share. A total of 19.49 million shares were requested, representing a subscription value of SAR 1.56 billion during the offering period from May 19 to 25, the brokerage said in a statement to Tadawul on May 28. Yaqeen Capital will finalize the required procedures with Tadawul before determining ASAS Makeen's debut date. According to Argaam 's data, ASAS Makeen earlier announced floating 1 million shares on Nomu at a nominal value of SAR 80 each. These shares represent 10% of the company's SAR 100 million capital, divided into 10 million shares at a par value of SAR 10 each.
Argaam
5 days ago
- Business
- Argaam
Al Kuzama IPO on Nomu 108.4% covered
Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of Al Kuzama Trading Co., announced the completion of the offering of 422,400 shares on the Nomu-Parallel Market. In a statement on Tadawul today, May 26, the brokerage said the offering was 108.38% oversubscribed during the subscription period from May 18-22, at SAR 107 a share. For More IPOs Yaqeen Capital will finalize the required procedures with Tadawul, before determining Al Kuzama's debut date. According to Argaam 's data, Al Kuzama earlier announced floating 422,400 shares on Nomu, at a nominal value of SAR 10 each. These shares represent 12% of the company's pre-IPO capital, They make up 10.71% of the post-IPO capital. The company was established in 2013 in Riyadh as a sole proprietorship. It later converted into a limited liability company, and then into a joint stock company in 2021. Al Khuzama's core business includes operating premium restaurants and beverage outlets, as well as organizing upscale events.
Argaam
19-05-2025
- Business
- Argaam
Winners of Argaam Recognition Award 2024 revealed
In recognition of the professional excellence of investment fund managers and IPO lead managers in the Saudi stock market, Argaam continues to present the Argaam Recognition Award to outstanding financial institutions in light of the performance of their investment funds and investment banking in the Main Market (TASI) and the Nomu-Parallel Market. The 'Top-Performing Fund for 2024' Award was granted to Al Rajhi Capital Saudi Small and Mid-Cap Equity Fund. The award is granted to the top performing funds with net assets under management (AUMs) exceeding SAR 100 million (TIER-I). Osool & Bakheet Parallel Market Trading Equity Fund won the 'Top-Performing TIER2 Fund for 2024' Award for funds with AUMs below SAR 100 million. HSBC Saudi Arabia was awarded the " IPO Manager of The Year 2024" in the Main Market. Yaqeen Capital was named the 'Top IPO Manager of The Year 2024" in the Nomu-Parallel Market. Al Rajhi Capital was also named the 'Best Trading Platform and Best Brokerage Company for 2024'. Since its launch in 2017, the Argaam Recognition Award has received wide acclaim and considerable interest from the Saudi financial and business community. This year's edition builds on the success of the award's professional foundation.
Zawya
14-05-2025
- Business
- Zawya
Saudi Arabia's Al-Khaldi Logistics to raise up to $13mln from Nomu IPO
Al-Khaldi Logistics Company will raise between 46.2 million and 49.35 million Saudi riyals ($12.32-$13.16 million) from its listing on the kingdom's Nomu Parallel Market. The offer price has been set between SAR 44 and SAR 47 per share. The bidding and book-building period will run from May 27 to June 1. The company is selling 1.05 million shares on Nomu, representing 7% of its post-IPO capital, to qualified investors. The minimum subscription amount has been fixed at 10 shares and a maximum of 749,990. Yaqeen Capital has been appointed the financial advisor and lead manager on the offering. Established in 2008, Al-Khaldi Logistics deals primarily in land freight transportation.
