Riyadh, Kingdom of Saudi Arabia: Jamjoom Fashion Trading Company (“Jamjoom Fashion” or the “Company”), a leading Saudi-based apparel and lifestyle group and a pioneer in creating and scaling brands across the KSA and the Middle East, and the group behind Nayomi and Mihyar, today announces the successful completion of the offering of 2,384,340 shares, representing 30% of its capital, and the final offer price (the “Final Offer Price”) for its initial public offering (the “IPO” or “Offering”).

The Offering successfully completed at a Final Offer Price of SAR 145.0 per share, at the top of the previously announced price range for the Offering of SAR 140–145 per share. The Final Offer Price implies a market capitalization of the Company at listing of SAR 1,152 million (USD 307 million), with the Offering proceeds being around SAR 346 million (USD 92 million).

The offering process garnered interest from a range of Qualified Investors, generating an order book of SAR 1,557 million, a 4.50x times oversubscription.

Kamal Osman Jamjoom, Founder and Chairman of Jamjoom Fashion, said: “We are deeply encouraged by the strong demand from a diverse range of qualified investors, which reaffirms the market’s confidence in  homegrown brands that are proudly taking Saudi development concepts to new markets, scaling in innovative ways, and blending the best of online shopping with brick-and-mortar experiences to attract and build a loyal customer base. This overwhelming interest is not only a vote of confidence in Jamjoom Fashion, but also in the strength and future potential of the Saudi homegrown brands and retail sector in the Kingdom of Saudi Arabia and the wider GCC region.”

Highlights of the Offering

  • The Final Offer Price is SAR 145.0 per share.
  • The total size of the Offering is SAR 346 million (USD 92 million), implying a market capitalization of the Company at listing of SAR 1,152 million (USD 307 million).
  • The Offer Shares will be listed and traded on the Parallel Market (Nomu) of the Saudi Exchange (“Nomu” or the “Parallel Market”) following the completion of the listing formalities with the Saudi Exchange.
  • The Offering consisted of 2,384,340 Offer Shares, representing 30% of the Company’s issued share capital.
  • The Company is 100% owned by Kamal Osman Jamjoom Trading Company (the “Selling Shareholder”), and the Offering was through the sale of a portion of KOJ Trading’s shares.
  • Following the Offering, the Selling Shareholder will continue to hold the majority of shares equating to 70% ownership interest in the Company’s share capital.
  • The Selling Shareholder is subject to a 12-month lock-up period from the commencement of trading of the Company’s shares on the Exchange, during which it may not dispose of any of its shares. After the lock-up period, it may dispose of its shares without the CMA’s approval.
  • Today’s final allocation for the Offer Shares has also been determined at the discretion of the Financial Advisor and in consultation with the Company. The surplus will be refunded no later than 11 September 2025G, and there will be no commissions or deductions from the Lead Manager or the Receiving Agents.
  • With respect to the Offering, the Company appointed EFG Hermes KSA as financial advisor (“Financial Advisor”) and lead manager (“Lead Manager”).
  • Al Rajhi Capital, SNB Capital Company, Saudi Fransi Capital, Riyad Capital, Al Bilad Investment, Al Jazira Capital, Investment Securities and Brokerage Company, Derayah Financial, Alinma Capital, Arab National Bank Financial, Yaqeen Capital, Alkhabeer Capital, Al-Awwal Investment (SAB Invest), Saham Capital Financial Company, GIB Capital, EFG Hermes KSA, Musharaka Capital, and Awaed Alosool Capital act as Receiving Agents (collectively, the “Receiving Agents”) for Qualified Investors.

Transaction Timeline:

Refund of Excess Monies (if any)

11 September 2025G

Start of Trading

Trading of the Company’s shares on the Saudi Exchange is expected to commence after all relevant regulatory requirements are satisfied. Trading will be announced on the Saudi Exchange’s website (www. saudiexchange.sa).

For more information about the IPO, visit www.jamjoomfashion.com/ipo

Financial Advisor and Lead Manager
EFG Hermes KSA
Saud Altassan
contact-ksa@efg-hermes.com

Communications Advisor
Brunswick Group
Celine Aswad
Mohannad Anabtawi
Jamjoomfashion@brunswickgroup.com