{"id":95605,"date":"2025-03-25T00:00:00","date_gmt":"2025-03-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/25\/umm-al-qura-share-price-jumps-to-sar-19-50-on-tadawul-debut-net-income-up-57-in-2024\/"},"modified":"2025-03-25T00:00:00","modified_gmt":"2025-03-25T00:00:00","slug":"umm-al-qura-share-price-jumps-to-sar-19-50-on-tadawul-debut-net-income-up-57-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/25\/umm-al-qura-share-price-jumps-to-sar-19-50-on-tadawul-debut-net-income-up-57-in-2024\/","title":{"rendered":"Umm Al Qura share price jumps to SAR 19.50 on Tadawul debut + Net income up 57% in 2024"},"content":{"rendered":"

Umm Al Qura for Development and Construction share price jumped the <\/strong>maximum 30% on its Tadawul debut yesterday, to close at SAR 19.50 apiece on<\/strong> its first day of trading up from its final IPO price of SAR 15 per share, according to market data<\/a>. Some 9.99 mn shares were traded, signalling strong investor interest and high liquidity. <\/p>\n

The company\u2019s shares are allowed to fluctuate within a \u00b130% band,<\/strong> with a static fluctuation band of \u00b110% on the first three days of trading. Starting from the fourth day, shares will be allowed to trade at \u00b110% as circuit breakers take effect, and the static fluctuation limit will be removed.<\/p>\n

REFRESHER- <\/strong>The PIF-backed developer took a 9.1% stake<\/a> to the main market in a SAR 2 bn IPO that was 241x oversubscribed by institutional investors and 20x oversubscribed by retail investors.<\/p>\n

The company also published its first post-IPO earnings: <\/strong>Umm Al Qura reported a 57.3% y-o-y rise in net income to SAR 498.6 mn in 2024, it said in an earnings release (pdf)<\/a>. Meanwhile, revenue rose 84.6% y-o-y to SAR 1.82 bn, backed by the sale of nine land plots and lease revenues from three plots.<\/p>\n

ADVISORS- <\/strong>Albilad Capital quarterbacked the transaction as lead manager, while also being joint financial advisor, joint bookrunner, and co-underwriter alongside GIB Capital, and AlRajhi Capital. Alinma Investment was also joint bookrunner and co-underwriter. Lazard was appointed as advisor to Umm Al Qura. Receiving agents included SNB Capital, SAB Invest, BSF Capital, ANB Capital, and Derayah Financial, among others.<\/p>\n

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THE IPO PIPELINE AHEAD-<\/p>\n

Key Tadawul listings to watch out for in 2025:<\/strong><\/p>\n