Listing to enhance Jamjoom Fashion’s profile, governance, and transparency
RIYADH: Saudi lifestyle retailer Jamjoom Fashion Trading Co. plans to sell a 30 percent stake in an initial public offering on the Kingdom’s Nomu parallel market, according to a statement on the Saudi Exchange.
The company will offer 2.38 million shares, with the price range to be announced on Sept. 1. The subscription period for qualified investors will run from Sept. 1 to 4, and the final offer price will be set on Sept. 9. The shares will be listed on Nomu after regulatory approvals are completed.
The planned listing follows steady earnings growth, with the retailer reporting SR540.4 million in revenue for the nine months to June 2025, up 14.3 percent, and net profit rising 17.1 percent to SR94.3 million.
The listing comes as Saudi Arabia continues to develop its financial markets under the Vision 2030 transformation plan, which aims to diversify the economy and attract greater foreign investment.
“The launch of the IPO is a crucial step in our journey so far,” said Founder and Chairman Kamal Osman Jamjoom.
“It gives investors an opportunity to participate in a customer-focused industry that is unlike any other in our region, and one that has the potential to grow thanks to supportive government policies, macroeconomic conditions, and demographic trends,” he added.
He also said the listing would enhance Jamjoom Fashion’s profile, governance, and transparency, supporting its next phase of growth by accelerating brand creation and expanding into new markets.
Jamjoom Fashion, fully owned by Kamal Osman Jamjoom Trading Co., operates 218 stores across six Gulf markets, anchored by its flagship Nayomi lingerie and beauty brand, which generates about 84 percent of revenue, and its menswear brand Mihyar, contributing around 16 percent.
Vice Chairman and CEO Stephen Holbrook said the IPO will serve as a “catalyst” for the company’s next growth chapter, enabling brand portfolio expansion, digital-first innovation, and a larger store footprint.
The offering is being advised by EFG Hermes KSA, with Al-Rajhi Capital, SNB Capital, and Riyad Capital acting as receiving agents. The shares will be available only to qualified investors as defined by the Capital Market Authority.
According to the company’s intention-to-float filing, Jamjoom Fashion plans to expand its e-commerce platforms, scale its loyalty programs, and introduce new brands to cater to changing consumer preferences in the region.
It also aims to deepen its footprint in the Gulf Cooperation Council, where strong macroeconomic fundamentals and supportive government policies are driving growth in retail and lifestyle sectors.
