Al Kuzama Trading eyes a SAR 45.2 mn IPO on Nomu

Al Kuzama Trading is guiding on an indicative price range of SAR 99-107 apiece for its Nomu primary offering of a 10.7% stake, according to a disclosure to Tadawul.

Proceeds + market cap: At the top of the range, the restaurant operator could rake in SAR 45.2 mn and reach a market cap of SAR 422 mn. Al Kuzama will use the fresh funds to ramp up its working capital and expand across the Kingdom over the next three years. Around SAR 3 mn will be set aside to cover IPO-related expenses.

Happening next week: The subscription period is set to run between 18-22 May, where qualified investors will be able to subscribe to a maximum of 197.1k shares each, with a minimum subscription of 10 shares. The final allocation is slated for Tuesday, 27 May.

The firm’s three majority shareholders will retain a majority 54.1% stake, down from 60.6%; their shares will be on lockup for 12 months from the first day of trading.

ADVISORS- Yaqeen Capital is quarterbacking the transaction as lead manager and financial advisors, with RSM as serving as accountant. Receiving agents include Derayah Financial, Al Rajhi Capital, and SNB Capital, among others.

OTHER NOMU IPOs TO WATCH FOR IN 2025:

• Axelerated Solutions priced its IPO at SAR 27 apiece;
• Asas Makeen priced its IPO at SAR 80 apiece;
• Hawiya Auctions priced its IPO at SAR 13 apiece;
• Dkhoun National Trading ’s IPO was 119.2% oversubscribed;
• Al Khaldi Logistics, Multi-sector operator Anmat, and school operator Dome International were the latest to issue prospectuses for the move;
• Qudra for Communications and IT, the National Signage Industrial Company, Naf for Feed Industry, medical equipment supplier Wajd, and property developer Hammad Mohammed Bin Saedan Real Estate were given the CMA’s all-clear to list on the parallel market.

CORRECTION– In a previous version of the story, we mistakenly wrote that the company’s market cap will reach SAR 4.2 bn at the top end of the range. The story was amended on 27 May, 2025.