AI Summary
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.
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.
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Company Profile |
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Company |
ASAS Makeen Real Estate Development Co. |
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Market |
Nomu-Parallel Market |
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Core Activities |
Real estate development and investment |
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Capital |
SAR 100 mln |
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No. of Shares |
10 mln |
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Share Par Value |
SAR 10 |
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IPO Summary |
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Issue Percentage |
10% |
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Offered Shares |
10 mln |
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IPO Minimum Limit |
100 shares |
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IPO Maximum Limit |
499,990 shares |
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Offer Period |
May 19-25, 2025 |
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Final Allocation |
May 28, 2025 |
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Surplus Refund (if any) |
June 1, 2025 |
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Company Shareholders |
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Shareholders |
Pre-IPO |
Post-IPO |
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No. of Shares (‘000) |
Ownership (%) |
No. of Shares (‘000) |
Ownership (%) |
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Abdulrahman bin Saud Abdulrahman Al-Hadlaq |
9600 |
96% |
8640 |
86.4% |
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Anas bin Saud Abdulrahman Al-Hadlaq |
400 |
4% |
360 |
3.6% |
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Qualified investors |
-- |
-- |
1000 |
10% |
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Total |
10000 |
100% |
10000 |
100% |
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Additional Information |
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Financial Advisor & Lead Manager |
Yaqeen Capital |
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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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