{"id":102966,"date":"2025-12-02T00:00:00","date_gmt":"2025-12-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/"},"modified":"2025-12-02T00:00:00","modified_gmt":"2025-12-02T00:00:00","slug":"cherry-trading-dips-on-tadawul-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/","title":{"rendered":"Cherry Trading dips on Tadawul debut"},"content":{"rendered":"

<\/strong>Car rental company Cherry Trading closed down 5.7% at SAR 26.40 on its Tadawul <\/strong>debut <\/strong>yesterday<\/strong>, playing into a pattern of muted first-day performance<\/a> on the main market amid broader liquidity pressures. The stock traded between a low of SAR 25.9 and a high of SAR 29.0, with 9.24 mn shares changing hands across 23.7k trades worth SAR 257.6 mn.<\/p>\n

The downbeat debut stands in contrast to the strong demand during the offering phase<\/strong>, where the retail tranche closed 6.5x oversubscribed<\/a> and the institutional bookbuild drew 85.6x coverage<\/a>, prompting the company to price at SAR 28 a share. Cherry floated a 30% stake, 9 mn shares, in a combined primary and secondary sale. <\/p>\n

Usual caps apply: <\/strong>Cherry\u2019s shares will be allowed to fluctuate within a 30% range, with a static band of 10% for the first three trading days. Starting from the fourth day, shares will be allowed to trade at a 10% volatility as circuit breakers kick in.<\/p>\n

IN CONTEXT- This is the smallest IPO on the main market so far this year:<\/strong> Cherry\u2019s SAR 252 mn raise sits at the very bottom of the 2025 proceeds table, coming in just below Sport Clubs Company<\/a> (SAR 257 mn) and well behind mid-tier floats such as Marketing Home Group<\/a> (SAR 408 mn) and Entaj<\/a> (SAR 450 mn).<\/p>\n

Looking ahead<\/strong>, EFG Hermes noted that the company\u2019s post-listing performance will depend on fleet-utilization efficiency, the adoption of digitized fleet-management solutions, and the robustness of its governance practices, as well as overall liquidity conditions, according to a press release (pdf)<\/a>. <\/p>\n

ADVISORS- <\/strong>- Our friends at EFG Hermes KSA, along with BSF Capital, acted as financial advisors, bookrunners and underwriters. Receiving agents<\/strong> included 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":"

This is the smallest IPO on the main market so far this year.<\/p>\n","protected":false},"author":1,"featured_media":102967,"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":[4481,10,29],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-102966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-cherry-trading","tag-enterpriseam-ksa","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"ce8e31e5-6a81-489c-b46e-06b3958effc2","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/219.jpg","photo_position":"above","homepage_title":"","full_issue_title":"! Cherry Trading dips on Tadawul debut","related_issue":[102956],"teaser":"This is the smallest IPO on the main market so far this year.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/12\/.49a9774b-482d-4016-b94f-c55163e0279f.mp3"},"yoast_head":"\nCherry Trading dips on Tadawul debut - 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\/12\/02\/cherry-trading-dips-on-tadawul-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cherry Trading dips on Tadawul debut\" \/>\n<meta property=\"og:description\" content=\"This is the smallest IPO on the main market so far this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/219.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\/12\/02\/cherry-trading-dips-on-tadawul-debut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Cherry Trading dips on Tadawul debut\",\"datePublished\":\"2025-12-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/\"},\"wordCount\":309,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/6\/219.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Cherry Trading\",\"EnterpriseAM KSA\",\"IPO watch\"],\"articleSection\":[\"IPO WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/12\/02\/cherry-trading-dips-on-tadawul-debut\/\",\"name\":\"Cherry Trading dips on Tadawul debut - 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