ASAS Makeen publishes prospectus to offer 1M shares on Nomu

ASAS Makeen publishes Nomu IPO prospectus

Logo of ASAS Makeen Real Estate Development Co.

ASAS Makeen Real Estate Development Co. issued the prospectus for offering one million shares on the Nomu-Parallel Market.

The offered shares represent 10% of the company’s SAR 100 million capital, divided into 10 million shares at a nominal value of SAR 10 each.

For More IPOs

The share sale will run for five working days from May 19-25.

The Capital Market Authority (CMA) approved in December 2024 the company’s Nomu offering application.

ASAS Makeen was established as a limited liability company in 2011 in Riyadh. It later transformed into a closed Saudi joint-stock company.

Its current actual business activity is developing and investing in lands through the construction, marketing, and leasing of real estate units, commercial complexes, and office buildings on plots owned by the company or by third parties.

Company Profile
Company	ASAS Makeen Real Estate Development Co.
Market	Nomu-Parallel Market
Core Activities	Real estate development and investment
Capital	SAR 100 mln
No. of Shares	10 mln
Share Par Value	SAR 10

IPO Summary
Issue Percentage	10%
Offered Shares	10 mln
IPO Minimum Limit	100 shares
IPO Maximum Limit	499,990 shares
Offer Period	May 19-25, 2025
Final Allocation	May 28, 2025
Surplus Refund (if any)	June 1, 2025

Company Shareholders
Shareholders	Pre-IPO		Post-IPO
Shareholders	No. of Shares (‘000)	Ownership (%)	No. of Shares (‘000)	Ownership (%)
Abdulrahman bin Saud Abdulrahman Al-Hadlaq	9600	96%	8640	86.4%
Anas bin Saud Abdulrahman Al-Hadlaq	400	4%	360	3.6%
Qualified investors	--	--	1000	10%
Total	10000	100%	10000	100%

Additional Information

Financial Advisor & Lead Manager

Yaqeen Capital

Receiving Entities

Derayah Financial, SNB Capital, Al Rajhi Capital, BSF Capital, Alinma Investment, Riyad Capital, AlJazira Capital, Alistithmar Capital, Albilad Capital, ANB Capital, SAB Invest, Alkhabeer Capital, Sahm Capital, GIB Capital

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