ASAS Makeen debuts on Nomu at SAR 80/shr today

Logo of ASAS Makeen Real Estate Development Co.

ASAS Makeen Real Estate Development Co. began trading on the Nomu-Parallel Market today, June 16, under the symbol 9640 and ISIN code SA16AH84MK14, with shares priced at SAR 80 each.

The stock is subject to daily and static price fluctuation limits of +/-30% and +/-10%, respectively.

For More IPOs

The company offered 10% of its SAR 100 million capital, equivalent to one million shares, in an IPO that was nearly 1,949% oversubscribed.

This is the 16th listing on Nomu in 2025, following Shmoh Almadi Co. debut on Jan. 13, ITMAM Consulting Co. on Jan. 23, Alshehili Co. for Metal Industries and Twareat Medical Care Co. on Jan. 29, Basma Adeem Medical Co. (Smile Care) on Feb. 3, Lamasat Co. on Feb. 9, Hedab Alkhaleej on March 5, RATIO on March 9, Future Vision for Health Training Co. on April 27, Service Equipment Co. on May 4, Dkhoun National Trading Co. on May 20, Adeer Real Estate Co. on May 26, and Axelerated Solutions for Information and Communication Technology Co. on June 1, Al Khuzama Trading Co. on June 2, and Anmat Technology for Trading Co. on June 11.

Nomu saw 30 IPOs in 2024, including three direct listings and 27 offerings to qualified investors.

ASAS Makeen’s listing brings the total number of companies on Nomu to 120, in addition to the Alwaha REIT Fund.

Company Overview

Founded in 2011 in Riyadh as a limited liability company, ASAS Makeen later converted into a closed joint-stock company. Its business activities include developing and investing in land through the construction, marketing, and leasing of real estate units, commercial complexes, and office buildings, whether on company-owned or third-party land.