Subscription opens for 2.38M shares of Jamjoom Fashion on Nomu today

Logo of Jamjoom Fashion Trading Co.

Qualified investors begin today, Sept. 1, subscription to 2.38 million shares of  Jamjoom Fashion Trading Co. (Jamjoom Fashion) on the Nomu-Parallel Market.

The price range is set at SAR 140-145 per share.

For More IPOs

The shares on offer represent 30% of the company’s pre-IPO capital of SAR 79.48 million, divided into 7.94 million shares at a par value of SAR 10 each.

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

The listing of Jamjoom Fashion will bring the number of IPOs on Nomu to 24 since the beginning of 2025.

Nomu witnessed 28 IPOs last year.

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.

CMA approved the company’s application for an IPO last June.

Company Overview

Jamjoom Fashion Trading Co. was established in 2023 as a Saudi joint stock company. The company focuses on creating and managing leading fashion brands and owns two labels: Nayomi and Mihyar.

By the end of the fiscal year ended Sept. 30, 2024, the company operated around 215 stores, with an average revenue per store of SAR 2.73 million.

Jamjoom Fashion owns one branch in Dubai, set up as a sole shareholder company, and six subsidiaries in the UAE, Oman, Bahrain, Kuwait, Qatar, and the Philippines. These operate under the names Jamjoom Fashion for ready-to-wear and children’s products, Nayomi in Qatar, and Jamjoom Fashion Support Services Ltd. in the Philippines.

Traditional stores accounted for more than SAR 597 million, or around 98% of the company’s SAR 612 million total revenue by the fiscal year ended Sept. 30, 2024. Online stores made up the remaining 2%.

The group currently sells Nayomi products across the GCC, including Saudi Arabia, while Mihyar products are sold only in the Kingdom. The company derives most of its revenue from Saudi Arabia, as shown in the following table:

**Jamil Kamal Osman Jamjoom owns 1% of the share capital of Kamal Osman Jamjoom Trading Co.