Dome International, a leading provider of education services, is offering 850,000 shares, amounting to 14.53% of the company’s capital. The offering period for the IPO is scheduled to begin on May 19, 2025, and will run until May 26, 2025. Asas Makeen Real Estate is also looking to raise funds by offering 1 million shares, which represents 10% of its total capital.
These two listings on the NOMU market mark a significant moment for the Saudi business landscape, particularly as the country’s government has been focusing on creating opportunities for smaller and mid-sized businesses to gain access to capital markets. The NOMU market, which is designed to cater to companies with higher growth potential, has been increasingly gaining traction as more businesses see it as an alternative to the main TASI exchange.
Dome International's offering is expected to bring considerable attention, as the company has become a well-known name in the education sector. Since its founding in 2016, Dome has built a robust portfolio, including schools and accredited educational testing centres that span across the kingdom. The company received approval for the IPO from Saudi Arabia’s Capital Markets Authority in March 2025. This step follows a trend of Saudi companies expanding their reach and capitalisation to meet growing demand for quality educational services in the region. With education being a key focus of the Vision 2030 reform plan, Dome's IPO comes at a strategic moment as the kingdom pushes to improve its education system and increase its reliance on private sector players.
Watheeq Capital Company has been appointed as the financial advisor for Dome International’s potential offering. The involvement of a reputable advisor adds credibility to the IPO, potentially boosting investor confidence. Given the company’s track record in the education sector, there are high expectations for a successful launch.
In contrast, Asas Makeen Real Estate, also a newcomer to the NOMU market, plans to offer 1 million shares. Asas Makeen is focused on real estate development and investment, tapping into a sector that has seen significant activity in Saudi Arabia as the kingdom works towards modernising its infrastructure and urban landscape. The company’s IPO aims to raise capital that will fund further developments and expand its real estate portfolio, which is expected to play a pivotal role in supporting the country’s rapidly growing population and urbanisation efforts.
Both companies’ decisions to list on the NOMU market are aligned with the Saudi government’s broader economic goals. As part of the Vision 2030 strategy, the government has been working to increase the number of listings on the kingdom’s stock markets and promote the growth of non-oil sectors, such as education, real estate, and technology. The IPOs are expected to attract attention from both local and international investors, especially given the increasing global interest in Saudi Arabia’s economic transformation.
The capital raised from the IPOs will help fuel expansion plans for both companies, with Dome International focusing on enhancing its educational offerings and Asas Makeen bolstering its real estate projects. As these two companies look to strengthen their market positions, they are poised to play a vital role in the kingdom’s shift towards a more diversified economy.
With the NOMU market providing a platform for smaller and mid-sized enterprises, these IPOs highlight the growing attractiveness of this parallel market. Investors are now presented with a wider array of options beyond the larger, more established companies listed on the main exchange. For Saudi firms, NOMU offers a vital route to raise capital and increase visibility, helping to boost investor confidence in the local market.
As the IPOs approach, market analysts will be closely monitoring the performance of Dome International and Asas Makeen. Both companies have shown potential in their respective sectors, but their success on the NOMU market will largely depend on investor sentiment, market conditions, and their ability to execute their business strategies post-listing.
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