Jamjoom Fashion to list 30% on Nomu

Saudi brand's IPO price range to be announced on September 1

- BY MANOJ NAIR

Another Saudi Arabian IPO is on the way, with Jamjoom Fashion Trading Company confirming plans to list shares on the kingdom's parallel market, Nomu.

The retailer has multiple fashion-focused brands in its portfolio, including the intimate apparel label Nayomi and menswear-focused Mihyar.

Jamjoom will offer 2.38 million shares, representing 30 per cent of its share capital. The price range will be announced on September 1, with subscriptions until September 4. The final offer price will be confirmed on September 9.

Rising earnings