Latest news with #YaqeenCapital
Zawya
12-06-2025
- Business
- Zawya
Saudi's Al Mozaini Real Estate to launch IPO
Saudi Arabia's Hamad & Ahmad Mohammed Al-Mozaini Real Estate Company is set to launch an initial public offering (IPO) and list on the Saudi Stock Exchange (Tadawul) Parallel Market, Nomu. The company has appointed Yaqeen Capital as the arranger for the real estate firm's public subscription process. Hamad & Ahmad is the latest Saudi-based company to capitalise on the kingdom's capital market, which has seen significant growth on the back of ambitious economic reforms. The kingdom has consistently dominated the IPO activity in the Middle East. During the first quarter of the year, 12 out of 14 listings in the region originated from Saudi Arabia, according to EY. Five IPOs on the Tadawul Main Market raised a total of $1.8 billion, while seven IPOs on Nomu attracted $69 million. (Writing by Cleofe Maceda; editing by Seban Scaria)
Argaam
11-06-2025
- Business
- Argaam
Yaqeen Capital signs agreement with Al Mozaini to arrange listing on Nomu
Yaqeen Capital signed on June 4 an agreement with Hamad & Ahmed Al Mozaini Real Estate Co. to arrange the initial public offering (IPO) of its shares and subsequent listing on the parallel market – Nomu. In a statement to Tadawul, the company said that the offering and listing of shares will go through several phases, starting from the signing date of the agreement and continuing until obtaining approvals from the Capital Market Authority (CMA) and the actual listing of the shares on Nomu. For More IPOs Yaqeen will generate financial revenues from this agreement, depending on the progress of the various stages, obtaining CMA approval, and the successful completion of the offering and listing. Upon completion of all stages, the revenues generated from the transaction will exceed 5% of Yaqeen Capital's total revenues, based on the latest audited annual financials for 2024, the statement added.
Zawya
04-06-2025
- Business
- Zawya
Alkhaldi Logistics cancels Saudi IPO
Saudi Arabia's Alkhaldi Logistics Company has cancelled its initial public offering (IPO) on the kingdom's parallel market, Nomu. Yaqeen Capital, serving as the financial advisor and lead manager for the offering, said on Tuesday that the planned share offering was 'incomplete' and considered 'void'. It did not specify the reason for cancellation. With the IPO cancelled, subscribers are expected to receive refunds by Wednesday, June 4, 2025. The company had previously planned to sell 1.05 million shares on Nomu, representing 7% of post-IPO capital. The offer price was set between SAR 44 and SAR 47 per share. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
29-05-2025
- Business
- Zawya
Asas Makeen's Saudi IPO 19 times oversubscribed, raises $415mln
The initial public offering (IPO) of Saudi Arabia's Asas Makeen Real Estate Development and Investment Company has been oversubscribed by more than 19 times, as investors capitalise on the kingdom's real estate boom. The offering, which ran from May 19 to 25, 2025, received bids for nearly 19.5 million shares, raising a total of more than SAR 1.56 billion ($415 million), according to Yaqeen Capital, the financial advisor and lead manager for the IPO. The company had offered a 10% stake or one million shares on the Saudi Stock Exchange Parallel Market Nomu, with the offering price set at SAR 80 per share. The listing of the company's shares on Nomu will be determined after the required procedures with the Saudi Stock Exchange are finalised. The Saudi real estate market has demonstrated strong momentum, with transaction volumes reaching $29 billion during the first three months of the year, according to CBRE Middle East. The growth has been supported by government initiatives and heightened investor confidence. (Writing by Cleofe Maceda; editing by Seban Scaria)
Argaam
28-05-2025
- Business
- Argaam
ASAS Makeen IPO on Nomu 1949% covered
Yaqeen Capital, the financial advisor and lead manager for the initial public offering (IPO) of ASAS Makeen Real Estate Development Co., announced the completion of the offering on the Nomu -Parallel Market, which was 1949.5% oversubscribed at SAR 80 a share. A total of 19.49 million shares were requested, representing a subscription value of SAR 1.56 billion during the offering period from May 19 to 25, the brokerage said in a statement to Tadawul on May 28. Yaqeen Capital will finalize the required procedures with Tadawul before determining ASAS Makeen's debut date. According to Argaam 's data, ASAS Makeen earlier announced floating 1 million shares on Nomu at a nominal value of SAR 80 each. These shares represent 10% of the company's SAR 100 million capital, divided into 10 million shares at a par value of SAR 10 each.
