Saudi fashion brand Jamjoom prices IPO at SAR145 a share, raises SAR346 million

IPO attracted strong interest from investors, with order book totaling SAR1.557 billion

Last updated: September 11, 2025 | 11:37

2 MIN READ

The Saudi Stock Exchange, also known as the Tadawul, in Riyadh

File photo

Dubai: Jamjoom Fashion Trading Company, a leading Saudi apparel and lifestyle group behind brands including Nayomi and Mihyar, has completed its initial public offering (IPO), pricing shares at SAR145 each, the top end of its previously announced range of SAR140–145.

The offering, which sold 2,384,340 shares, represents 30% of the company’s capital and raises SAR 346 million ($92 million). At this price, Jamjoom Fashion’s market capitalization at listing is estimated at SAR1.15 billion ($307 million).

The IPO attracted strong interest from qualified investors, with the order book oversubscribed 4.5 times, totaling SAR 1.557 billion.

Also Read: Saudi fashion brand Jamjoom sets IPO range at SR140 to SR145

Kamal Osman Jamjoom, Founder and Chairman, highlighted the strong demand as a vote of confidence in Saudi homegrown brands. He said the offering reflects investor confidence in the company’s growth model, which combines online and physical retail channels, and underscores the potential of the Kingdom’s retail sector.

Key highlights of the offering

Final offer price: SAR145 per share.
Total offering size: SAR346 million ($92 million).
Listing venue: Parallel Market (Nomu) of the Saudi Exchange.
Ownership post-IPO: Selling shareholder Kamal Osman Jamjoom Trading Company will retain 70% of the company’s share capital.
Lock-up period: Selling shareholder subject to a 12-month restriction on selling remaining shares.
Oversubscription: Order book reached 4.5 times the offering size.

The IPO was managed by EFG Hermes KSA, which served as financial advisor and lead manager. A wide network of local investment banks, including Al Rajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, and others, acted as receiving agents for qualified investors.

The final allocation of shares has been completed, with surplus funds to be refunded to investors by 11 September 2025, without any commissions or deductions from the lead manager or receiving agents.

This IPO marks a milestone for Jamjoom Fashion, reinforcing its position as a key player in the Saudi and GCC retail market while providing investors an opportunity to participate in the growth of homegrown brands with regional expansion ambitions.

Justin VargheseYour Money Editor

Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence. Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.