Subscription opens for 4.2M shares of Hamad Bin Saedan on Nomu today

Logo of Hamad Mohammed Bin Saedan Real Estate, which opened IPO for 4.2 million shares on Nomu today, Aug. 29

Qualified investors begin today, Aug. 29, subscription to 4.2 million shares of Hamad Bin Saedan Real Estate Co. on the Nomu-Parallel Market. The price range is set at SAR 13.5 per share.

The shares on offer represent 17.64% of the company’s pre-offering.

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The company's current capital is SAR 240 million, which will increase to SAR 282.35 million after the offering, divided into 28.24 million shares with a nominal value of SAR 10 per share.

The subscription period for qualified investors will continue for seven business days, ending on Sept. 4.

Today’s listing of Hamad Bin Saedan will bring this year’s IPOs to 22 since the beginning of 2025.

In March, the Capital Market Authority (CMA) approved Hamad Bin Saedan’s application to offer its shares on Nomu.

The company recently issued a supplementary prospectus after signing a SAR 59 million deal to sell its fully owned Al Yamamah Hotel Tower in Riyadh’s Al Sahafah district. The 1,680-square-meter property was sold to an individual buyer with no related-party ties.

The buyer will pay SAR 10 million upfront and the remaining SAR 49 million within 30 business days.

The sale value represents 22.6% of net assets as of June 30, 2025, while the property’s book value of SAR 41.15 million accounts for 15.8%. The asset generated SAR 3.2 million in 2024, equal to 1.7% of revenue.

The subscription is limited to qualified investors, including:

- Capital market institutions authorized to act on their accounts.

- Clients of capital market institutions authorized to carry out management operations. This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.

- The Saudi government, any government or international entity approved by the CMA, the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center (Edaa).

- Companies owned by the government, directly or through a portfolio managed by a person authorized to practice management operations.

- Investment funds, companies, and funds established in the GCC countries

- Investment funds 

- Natural persons are allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:

1) They should have executed transactions in the securities markets worth a minimum of SAR 40 million, and at least 10 deals in each quarter during the past 12 months.

2) Natural persons should also have a net asset value of at least SAR 5 million.

3) They should be working or have worked for at least three years in the financial sector.

4) They should hold a general certificate in securities dealing, approved by the CMA.

5) They should further hold a professional certificate in the field of securities business, approved by an internationally recognized body

- Any other persons identified by the CMA.

Company Overview

Hamad Bin Saedan was established in 2019 in Riyadh as a general partnership under the name Hamad Mohammed Bin Saedan & Partner Co. It later converted into a limited liability company before becoming a closed joint-stock company in 2022.

The company operates across three main business lines, real estate investments, real estate services, and tech investments.

Real estate investments: Strategic allocation of assets between income-generating real estate to secure recurring returns, and land or development projects aimed at capital gains. Investments are executed directly, through licensed REITs, subsidiaries, or partnerships with developers.

Real Estate Services: Property management, facilities management, brokerage, and project management services, all provided within the Kingdom.

Technology investments: Acquiring or establishing technology startups to develop and market software solutions.

Real estate investments account for the overwhelming majority of revenues, contributing over 98% (approximately SAR 176.6 million) as of September 2024.

**SAR '000

As of the end of September 2024, the Riyadh region accounted for approximately 99% of the company’s total revenues, as shown in the following table detailing revenues by geographic distribution:

**SAR ('000)

The company owns five subsidiaries with varying ownership percentages, either directly or indirectly. Among them is Mawten Building Co. Ltd., in which the company holds a 50% stake, with a share capital of SAR 20 million, as outlined in the following table:

The company stated that it intends to use the net IPO proceeds to finance its expansion plan. If the net proceeds are not sufficient to implement the expansion plan, it will rely on its available liquidity—after ensuring its ability to efficiently manage working capital—along with potential capital increases and obtaining additional financing from banks and finance companies.

It added that, should the company not use the entire net proceeds in financing its expansion plan, the remaining amount will be allocated to financing its working capital.

The company aims to finance its expansion plan as shown in the following table: