Riyadh – Mubasher: Tamkeen Human Resources Company plans to proceed with an initial public offering (IPO) to list its ordinary shares on the Saudi Exchange’s Main Market (Tadawul).
The Capital Market Authority (CMA) approved the company’s IPO to trade 7.95 million ordinary shares, representing 30% of the total issued share capital, according to a press release.
Meanwhile, the offering price will be determined following the conclusion of the institutional bookbuilding period.
Tamkeen is a prominent Saudi–based provider of workforce solutions, offering a wide range of tailored staffing services to both corporate and individuals clients across the Kingdom.
The company has achieved industry-leading profit margins, with a gross margin of 21.10%, an EBITDA margin of 13.20%, and a net profit margin of 12% in 2023.
Abdullah Al Shehri, Chairman of Tamkeen, said: “This IPO enhances our market presence and underscores our long-term commitment to transparency, growth, and sustainable value creation.”
“It is more than just a financial milestone; it reflects our commitment to the long-term prosperity of Saudi Arabia. Together, we are building a resilient and diversified economy, and I look forward to the opportunities ahead,” Al Shehri continued.
Fares Al Henaki, CEO of Tamkeen, commented: “The IPO reinforces our ability to continue delivering exceptional value to our clients and enhances our profile in the public market.”
