Logo ofKesay Clinics Co.
Qualified investors will start subscribing to 2 million shares of Kesay Clinics Co. on the Nomu- Parallel Market today, Feb. 11. 
The offering price has been set at SAR 15 per share.
The shares offered represent 5.26% of the company’s pre-IPO capital, amounting to SAR 38 million, divided into 38 million shares, at a par value of SAR 1 each.
The offering will take place through issuing and selling 2 million new shares, accounting for 5% of the company’s post-IPO capital, which will amount to about SAR 40 million.
The subscription will run for seven days until Feb. 22.
Today’s offering represents the first Nomu IPO in 2026.
Nomu recorded 28 IPOs during the previous year.
The subscription is limited to qualified investors, including:
– Capital market institutions authorized to act on their accounts.
– Clients of capital market institutions authorized to carry out management operations. This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.
– The Saudi government, any government or international entity approved by the Capital Market Authority (CMA), the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center (Edaa).
– Companies owned by the government, directly or through a portfolio managed by a person authorized to practice management operations.
– Investment funds, companies, and funds established in the GCC countries
– Investment funds
– Natural persons are allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:
1) They should have executed transactions in the securities markets worth a minimum of SAR 20 million, and at least 10 deals in each quarter during the past 12 months.
2) Natural persons should also have a net asset value of at least SAR 5 million.
3) They should be working or have worked for at least three years in the financial sector.
4) They should hold a general certificate in securities dealing, approved by the CMA.
5) They should further hold a professional certificate in the field of securities business, approved by an internationally recognized body.
– Any other persons identified by the CMA.
– To be currently serving or to have previously served as a member of the board of directors or as a member of board committees in companies listed on the Parallel Market.
– Any other persons determined by the CMA.
The CMA approved the company’s request to offer its shares in December 2025.
Kesay was established in 2015 as a sole proprietorship in Riyadh.
The company’s core business covers the provision of medical care services related to dermatology and cosmetic treatments, laser devices, and skin and hair care. According to its commercial register, the company’s activities also include integrated administrative services for offices and specialized medical complexes.
The company’s revenue reached approximately SAR 152 million by the end of 2024, up from SAR 149 million in 2023.
The dermatology and cosmetics segment accounted for 76.6% of total revenue, amounting to SAR 116.4 million in 2024, followed by the laser devices segment at 14%, and the skincare and haircare segment at 9%.
Revenue by Business Segment (SAR mln)
Segment
Dec. 31, 2024
June 30, 2025
Dermatology and Cosmetics
116.4
56.7
Laser Devices
21.6
12.0
Skincare and Haircare
14.0
14.3
Total
152.0
83.0
Company Profile
Company
Kesay Clinics Co.
Market
Nomu-Parallel Market
Core Activities
Medical care services
Pre-IPO Capital
SAR 38 mln
Number of Shares
38 mln
Post-IPO Capital
SAR 40 mln
New Number of Shares
40 mln
Nominal Value
SAR 1 per share
IPO Summary
Issue Percentage
5.26% of pre-IPO capital and 5% of post-IPO capital
Offered Shares
2 mln
IPO Minimum Limit
10 shares
IPO Maximum Limit
1,999,990 shares
Offer Period
Feb. 11-22, 2026
Final Allocation
Feb. 25, 2026
Surplus Refund (if any)
March 2, 2026
Additional Information
Financial Advisor
Estidamah Capital
Lead Manager
Derayah Financial
Receiving Agents
Alinma Capital, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG-Hermes, Awaed Alosool Capital and Dinar Investment.
Company Shareholders
Shareholders
Before IPO
After IPO
Number ofShares
(mln)
Ownership
(%)
Number of Shares
(mln)
Ownership
(%)
Sulaiman Hamad Abdullah Al-Yahia
32.22
84.8%
32.22
80.6%
Waqf Sulaiman Al-Yahia
3.61
9.5%
3.61
9.0%
Other shareholders
2.17
5.7%
2.17
5.4%
Public
—
—
2.0
5.0%
Total
38.0
100%
40.0
100%
Logo ofKesay Clinics Co.
Qualified investors will start subscribing to 2 million shares of Kesay Clinics Co. on the Nomu- Parallel Market today, Feb. 11.
The offering price has been set at SAR 15 per share.
The shares offered represent 5.26% of the company’s pre-IPO capital, amounting to SAR 38 million, divided into 38 million shares, at a par value of SAR 1 each.
The offering will take place through issuing and selling 2 million new shares, accounting for 5% of the company’s post-IPO capital, which will amount to about SAR 40 million.
The subscription will run for seven days until Feb. 22.
Today’s offering represents the first Nomu IPO in 2026.
Nomu recorded 28 IPOs during the previous year.
The subscription is limited to qualified investors, including:
– Capital market institutions authorized to act on their accounts.
– Clients of capital market institutions authorized to carry out management operations. This is provided that they are appointed under terms that enable them to take decisions related to accepting participation in the share offering and investment in Nomu on behalf of clients without prior consent.
– The Saudi government, any government or international entity approved by the Capital Market Authority (CMA), the Saudi market, any other financial market recognized by the CMA, or the Securities Depository Center (Edaa).
– Companies owned by the government, directly or through a portfolio managed by a person authorized to practice management operations.
– Investment funds, companies, and funds established in the GCC countries
– Investment funds
– Natural persons are allowed to open investment accounts inside the Kingdom and with Edaa, provided they fulfill certain criteria, including the below:
1) They should have executed transactions in the securities markets worth a minimum of SAR 20 million, and at least 10 deals in each quarter during the past 12 months.
2) Natural persons should also have a net asset value of at least SAR 5 million.
3) They should be working or have worked for at least three years in the financial sector.
4) They should hold a general certificate in securities dealing, approved by the CMA.
5) They should further hold a professional certificate in the field of securities business, approved by an internationally recognized body.
– Any other persons identified by the CMA.
– To be currently serving or to have previously served as a member of the board of directors or as a member of board committees in companies listed on the Parallel Market.
– Any other persons determined by the CMA.
The CMA approved the company’s request to offer its shares in December 2025.
Kesay was established in 2015 as a sole proprietorship in Riyadh.
The company’s core business covers the provision of medical care services related to dermatology and cosmetic treatments, laser devices, and skin and hair care. According to its commercial register, the company’s activities also include integrated administrative services for offices and specialized medical complexes.
The company’s revenue reached approximately SAR 152 million by the end of 2024, up from SAR 149 million in 2023.
The dermatology and cosmetics segment accounted for 76.6% of total revenue, amounting to SAR 116.4 million in 2024, followed by the laser devices segment at 14%, and the skincare and haircare segment at 9%.
Revenue by Business Segment (SAR mln)
Segment
Dec. 31, 2024
June 30, 2025
Dermatology and Cosmetics
116.4
56.7
Laser Devices
21.6
12.0
Skincare and Haircare
14.0
14.3
Total
152.0
83.0
Company Profile
Company
Kesay Clinics Co.
Market
Nomu-Parallel Market
Core Activities
Medical care services
Pre-IPO Capital
SAR 38 mln
Number of Shares
38 mln
Post-IPO Capital
SAR 40 mln
New Number of Shares
40 mln
Nominal Value
SAR 1 per share
IPO Summary
Issue Percentage
5.26% of pre-IPO capital and 5% of post-IPO capital
Offered Shares
2 mln
IPO Minimum Limit
10 shares
IPO Maximum Limit
1,999,990 shares
Offer Period
Feb. 11-22, 2026
Final Allocation
Feb. 25, 2026
Surplus Refund (if any)
March 2, 2026
Additional Information
Financial Advisor
Estidamah Capital
Lead Manager
Derayah Financial
Receiving Agents
Alinma Capital, Al Rajhi Capital, SNB Capital, BSF Capital, Riyad Capital, ANB Capital, Albilad Capital, AlJazira Capital, Alistithmar Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, Sahm Capital, GIB Capital, Musharaka Capital, EFG-Hermes, Awaed Alosool Capital and Dinar Investment.
Company Shareholders
Shareholders
Before IPO
After IPO
Number ofShares
(mln)
Ownership
(%)
Number of Shares
(mln)
Ownership
(%)
Sulaiman Hamad Abdullah Al-Yahia
32.22
84.8%
32.22
80.6%
Waqf Sulaiman Al-Yahia
3.61
9.5%
3.61
9.0%
Other shareholders
2.17
5.7%
2.17
5.4%
Public
—
—
2.0
5.0%
Total
38.0
100%
40.0
100%
