RIYADH: The Saudi Arabian market regulator, the Capital Market Authority (CMA), has approved three initial public offerings (IPOs), marking a significant development in the kingdom’s financial landscape. Notably, two of these IPOs will be listed on the NOMU Parallel Market, while details concerning the third are yet to be disclosed.
The first company, AlRamz Real Estate Company, plans to float 12,857,143 shares, which constitute 30 per cent of its total share capital. This marks AlRamz’s second attempt at an IPO on the NOMU market after an earlier plan to float a smaller stake was withdrawn following consultations with its financial advisor, ANB Capital.
Similarly, Abdulaziz Ahmad Altwijri Trading Company, which deals in a diverse range of products from cosmetics to medical supplies, has received CMA approval to offer one million shares representing 20 per cent of its share capital on NOMU. This follows a previous IPO attempt that did not come to fruition, as announced by the lead manager, Yaqeen Capital.
The third company approved by the CMA is the Consolidated Gruenenfelder Saady Holding Company (CGS), known as the Coldstores Group of Saudi Arabia. This Swiss-Saudi joint venture specialises in industrial and commercial refrigeration, as well as transport and storage solutions. CGS has registered an offering of 30 million shares, amounting to 30 per cent of its share capital.
These developments reflect the burgeoning activity on Saudi Arabia’s Parallel Market, which has witnessed nearly 20 IPOs in the first half of 2025 alone.
This uptrend signifies growing investor interest and confidence in the kingdom’s capital markets, underscoring Saudi Arabia’s commitment to expanding and diversifying its economic base through greater capital market participation.
