Saudi Retailer Jamjoom Fashion Sets IPO Price Range, Aims to Raise $92M
Jamjoom Fashion Trading Company, based in Saudi Arabia, has announced the price range for its initial public offering (IPO). Shares will be priced between $37.31 (SAR 140) and $38.64 (SAR 145), and subscriptions are now open.
IPO Details
The IPO is expected to raise between $89 million and $92 million. After listing, the company’s total market value will be between $297 million and $307 million. Subscriptions will run from September 1 to September 4.
The company is offering 2.38 million shares, equal to 30% of its capital, which will be traded on the Nomu Parallel Market of the Saudi Exchange.
Shares are available only to qualified investors. The minimum purchase is 10 shares, while the maximum is 396,595 shares. The selling shareholder, Kamal Osman Jamjoom Trading Company, will keep a 70% stake after the IPO.
Final share allocations will be announced on September 9, with refunds for extra subscriptions issued within two days. EFG Hermes KSA is the financial advisor and lead manager.
IPO Market in Saudi Arabia
Saudi Arabia’s IPO market has been very active in 2025, raising $2.8 billion in the first half of the year from six IPOs.
One of the biggest was flynas, a budget airline, which raised $1.1 billion in June by selling 30% of its capital. The IPO was hugely popular, with demand from investors far exceeding supply.
Another major IPO was Umm Al-Qura for Development and Construction, which raised $523 million in March by selling 9.1% of its capital. Funds will be used for its Masar project in Makkah.
Published: 2nd September 2025
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