{"id":101826,"date":"2025-10-27T00:00:00","date_gmt":"2025-10-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/"},"modified":"2025-10-27T00:00:00","modified_gmt":"2025-10-27T00:00:00","slug":"cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/","title":{"rendered":"Cherry Trading could raise SAR 840 mn at top IPO pricing range"},"content":{"rendered":"

<\/strong>Car lessor<\/strong> Cherry Trading<\/a><\/strong> set its indicative price range at SAR 27-28 per share for its IPO <\/strong>on Tadawul main market<\/strong>, Al Arabiya<\/a> reported, citing EFG Hermes KSA and BSF Capital\u2019s disclosure on Tadawul. The top of the range would allow the company to raise SAR 252 mn in proceeds, giving it a market cap of SAR 840 mn at listing, according to our calculations. The final offering price will be determined after the book-building process is completed on Thursday, 30 October.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

REFRESHER-<\/strong> The car rental company lined up the Capital Market Authority\u2019s approval for the move in June<\/a> to take a 30% stake \u2014 good for 9 mn shares \u2014 to the Tadawul main market, according to its prospectus<\/a>. The proceeds from the offering, excluding SAR 27 mn for IPO-related expenses, will be paid entirely to the selling shareholders. Cherry will not receive any funds from the offering.<\/p>\n

IPO timeline:<\/strong> The entirety of shares will be offered to institutional investors, each able to book between 100k and 1.5 mn. Some 20% of the shares on offer will be open to retail investors between 12-13 November, provided there is sufficient demand. Retail investors will be able to apply for up to 250k shares each, with a minimum of 10 shares. Final allocations will be made on Wednesday, 19 November.<\/p>\n

Post-IPO structure:<\/strong> Saudi Edarah Holding \u2014 Cherry\u2019s largest shareholder \u2014 will sell down its 98.5% stake to 68.95%, with the remaining shares subject to a 6-month lock-up period beginning on the first day of trading. Meanwhile, the 1.5% stake held by Cherry CEO Abdulaziz Saleh Mohammed Al Sowail will be reduced to 1.05%.<\/p>\n

ADVISORS-<\/strong> Our friends at EFG Hermes KSA, along with BSF Capital, are quarterbacking the transaction as the financial advisors, bookrunners, and underwriters. Other advisors include Stat Law Firm, Zeyad Sameer Khoshaim Law Firm, PwC, Euromonitor International, and KPMG.<\/p>\n

Receiving agents<\/strong> include Alinma Investment, Al Rajhi Capital, SNB Capital, Riyad Capital, Al Bilad Investment, Al Jazira Capital, Alistithmar Capital, Derayah Financial, ANB Capital, Yaqeen Capital, Al Khabeer Capital, Sab Invest, Saham Capital, GIB Capital, Musharaka Capital, and Awaed Alosool Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

The top of the range would allow the company to raise SAR 252 mn in proceeds, giving it a market cap of SAR 840 mn at listing, according to our calculations<\/p>\n","protected":false},"author":1,"featured_media":101827,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[10,2637,29],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-ipo","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"cdbf4807-4f68-46a2-a55a-e8c73672fd3e","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/766.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Cherry Trading sets its Tadawul IPO indicative price range at SAR 27-28 apiece","related_issue":[101813],"teaser":"The top of the range would allow the company to raise SAR 252 mn in proceeds, giving it a market cap of SAR 840 mn at listing, according to our calculations","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.63b41694-e7f5-490e-b2cb-6c0d3a83eaa4.mp3"},"yoast_head":"\nCherry Trading could raise SAR 840 mn at top IPO pricing range - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cherry Trading could raise SAR 840 mn at top IPO pricing range\" \/>\n<meta property=\"og:description\" content=\"The top of the range would allow the company to raise SAR 252 mn in proceeds, giving it a market cap of SAR 840 mn at listing, according to our calculations\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-27T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Cherry Trading could raise SAR 840 mn at top IPO pricing range\",\"datePublished\":\"2025-10-27T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\"},\"wordCount\":368,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM KSA\",\"IPO\",\"IPO watch\"],\"articleSection\":[\"IPO WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\",\"name\":\"Cherry Trading could raise SAR 840 mn at top IPO pricing range - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-10-27T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cherry Trading could raise SAR 840 mn at top IPO pricing range\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cherry Trading could raise SAR 840 mn at top IPO pricing range - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/","og_locale":"en_US","og_type":"article","og_title":"Cherry Trading could raise SAR 840 mn at top IPO pricing range","og_description":"The top of the range would allow the company to raise SAR 252 mn in proceeds, giving it a market cap of SAR 840 mn at listing, according to our calculations","og_url":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/","og_site_name":"KSA","article_published_time":"2025-10-27T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Cherry Trading could raise SAR 840 mn at top IPO pricing range","datePublished":"2025-10-27T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/"},"wordCount":368,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM KSA","IPO","IPO watch"],"articleSection":["IPO WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/","url":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/","name":"Cherry Trading could raise SAR 840 mn at top IPO pricing range - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1","datePublished":"2025-10-27T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/27\/cherry-trading-could-raise-sar-840-mn-at-top-ipo-pricing-range\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Cherry Trading could raise SAR 840 mn at top IPO pricing range"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/766.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/101826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=101826"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/101826\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/101813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/101827"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=101826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=101826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=101826"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=101826"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=101826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}