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Business

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Saudi developer taps BMG for $266m IPO on Nomu

By TRENDS Desk
September 17, 2021 5:52 pm
  • The Jeddah-based developer has real estate projects in several industries, including entertainment, medicine, and hospitality
  • Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock

Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock exchange.

The offering is expected to be one of the biggest listings in the parallel market with a value exceeding SR1 billion ($266.6 million), BMG said in a statement.

The Jeddah-based developer has real estate projects in several industries, including entertainment, medicine, and hospitality.

Nomu is a dedicated market seen to support small and medium sized enterprises.

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