Tamkeen for Human Resources is set to begin trading on the Saudi stock market on November 27, 2024, after successfully pricing its initial public offering (IPO) at 50 SAR per share. The company aims to raise approximately 397.5 million SAR (around 106 million USD) by offering 30% of its shares, which translates to about 7.95 million shares. This IPO is part of a broader trend in Saudi Arabia, where the market has seen significant activity, with over 15 billion USD in share sales since the beginning of the year, driven by strong demand for new listings and a recovering economy.

The listing of Tamkeen, which has quickly risen to become one of the top five human resources companies in Saudi Arabia, is expected to enhance its market position and provide capital for expansion. The company currently holds a market share of 4% to 6% and aims to increase this through its specialized subsidiaries. The IPO comes at a time when the Saudi market is experiencing fluctuations due to oil price volatility, but analysts suggest that the impact on the broader market is limited, particularly for companies like Tamkeen that operate in the non-oil sector.