Saudi Arabia’s Hamad Mohammed Bin Saedan Real Estate Company raised SAR 57.18 million ($15.24 million) in its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul) Parallel Market, Nomu.

The offering of more than 4.23 million shares, priced at SAR 13.5 each, was 1.14 times oversubscribed, indicating strong investor interest.

The IPO ran from August 29 to September 4, 2025. The offered shares represented 15% of the company’s post-offering capital.

The financial advisor, Merchants Capital said it will complete the necessary procedures with Tadawul to determine the listing date for the real estate firm on Nomu.

(Writing by Cleofe Maceda; editing by Daniel Luiz) seban.scaria@lseg.com