Saudi Arabia’s Tamkeen Human Resource Co. is set to launch an initial public offering (IPO) on TASI, the Saudi stock market.
The company will offer 7,950,000 ordinary shares, representing 30% of its share capital, as confirmed by its lead manager, Saudi Fransi Capital.
Having secured approval from the Capital Market Authority (CMA) on September 4 and a conditional nod from the Saudi Exchange (Tadawul) on June 30, Tamkeen joins the growing list of Saudi firms going public.
The IPO will be conducted over two days, from November 5-6, with shares priced at SAR 10 each, totalling a share capital of SAR 265 million.
Founded in 2018, Tamkeen specialises in workforce solutions within Saudi Arabia, offering tailored recruitment services to both corporate and individual clients. With a 4% market share as of 2022, the company operates 17 branches across the Kingdom, employing over 14,000 workers from eight nationalities.
In 2022, Dr. Sulaiman Al Habib Medical Services Group, listed on Tadawul, acquired a 25% stake in Tamkeen.
