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Riyadh, September 22, 2025:
«EFG Hermes», part of «EFG Holding» and the leading investment bank in MENA, successfully completed its first mandate as Sole Financial Advisor and Lead Manager for an IPO in Saudi Arabia. The bank advised «Jamjoom Fashion Trading Company» on its listing on the Parallel Market «Nomu» of the Saudi Exchange.
Offering Details
«Jamjoom Fashion» offered 2,384,340 ordinary shares, representing 30% of its share capital, through the sale of shares owned by its parent «Kamal Osman Jamjoom Trading Company».
The IPO implied a market capitalization of SAR 1,152 million at listing.
Strong Investor Demand
The offering attracted robust demand from a wide base of qualified local and international investors. Saudi accounts showed strong participation. In addition, foreign investors contributed one of the highest participation rates seen in recent IPOs.
Despite challenging market conditions, the order book reached SAR 1,557 million, equivalent to 4.5 times oversubscription.
Executive Remarks from «EFG Hermes»
Saud Al Tassan, CEO of EFG Hermes KSA
“We are proud to partner with «Jamjoom Fashion» on this landmark IPO. It reflects the strength of Saudi Arabia’s retail landscape and the success of homegrown brands. The transaction highlights the resilience of Saudi capital markets. At EFG Hermes KSA, we remain committed to connecting leading businesses with investors and supporting Vision 2030.”
Amr Abdel-Khabir, Managing Director, Investment Banking
“Our work on the «Jamjoom Fashion» IPO shows our ability to execute complex deals. Acting for the first time as both sole advisor and lead manager in KSA, we proved our capacity to connect high-potential companies with diverse investors across MENA. This IPO represents a milestone in our mission to unlock value and fuel economic growth.”
About «Jamjoom Fashion»
Founded in 1992, «Jamjoom Fashion» is a Saudi-based apparel and lifestyle group. The company is behind the «Nayomi» and «Mihyar» brands.
As of June 2025, it operates 218 stores across the GCC. The group consistently delivers strong revenue growth, sustainable margins, and solid profitability.
About «EFG Hermes» Regional Leadership
Since early 2025, «EFG Hermes» has advised on 6 M&A deals, 9 debt capital market (DCM) transactions, and 10 equity capital market (ECM) offerings across Egypt, UAE, Saudi Arabia, and Oman. These highlight its role as a regional investment banking leader.
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