ASAS Makeen’s Nomu offering price set at SAR 80/share

Logo of ASAS Makeen Real Estate Development Co.

ASAS Makeen Real Estate Development Co. set its initial public offering (IPO) price at SAR 80 per share, financial advisor and lead manager Yaqeen Capital said in a statement to Tadawul.

For More IPOs

The company intends to offer one million shares, representing 10% of the issued capital, on Nomu-Parallel Market.

In December 2024, the Capital Market Authority approved ASAS Makeen’s request to register and offer on Nomu, Argaam earlier reported.

The offering will run through May 19 to May 25.

ASAS Makeen was established as a limited liability company in 2011 in Riyadh. It later transformed into a closed Saudi joint-stock company.

Its current actual business activity is developing and investing in land plots through the construction, marketing, and leasing of real estate units, commercial complexes, and office buildings on plots owned by the company or by third parties.