Makeen Real Estate to Float 10% in IPO on Nomu
Deal News | Dec 31, 2024 | Zawya
Saudi real estate developer Asas Makeen Real Estate has received approval from the Capital Market Authority (CMA) to proceed with an Initial Public Offering (IPO) on the Saudi Stock Exchange Parallel Market, known as Nomu. The company intends to float one million shares, equivalent to 10% of its total share capital. The IPO will be available only to qualified investors, with further details to be provided in a forthcoming prospectus. Makeen specializes in a range of real estate development projects, from luxury apartments and villas to townhouses.
Sectors
- Real Estate Development
- Financial Markets
Geography
- Saudi Arabia – The announcement pertains to a Saudi-based company, Makeen, and its IPO on the Saudi Stock Exchange's Nomu market.
Industry
- Real Estate Development – Makeen is focused on real estate development, specifically in luxury apartments, villas, and townhouses.
- Financial Markets – The article discusses Makeen's initial public offering (IPO) on the Saudi Stock Exchange Parallel Market, Nomu.
Financials
- 10% – The percentage of Makeen's total share capital that will be available through the IPO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Asas Makeen Real Estate | Target Company | Company | A Saudi real estate development firm planning to float a portion of its shares in an IPO. |
| Capital Market Authority (CMA) | Regulatory Authority | Government | The government body that has approved Makeen's IPO on the Saudi Stock Exchange Parallel Market. |