Saudi developer Ladun pursues move to main market

Saudi developer and contractor Ladun Investment Company plans to transfer its listing from the Nomu junior market to the kingdom’s main stock exchange in the third quarter.

It shelved an earlier attempt this year.

Speaking to a Saudi TV channel, Ladun CEO Hassan Al-Hazmi said the company is in talks with financial advisers on how to make the move from Nomu to the main market this year.

It would be only the third company to make the leap this year, following Noforth Food Products Co., which owns a number of food brands, and Alwasail Industrial Company, which manufactures plastic pipes.

Last year, five companies moved from the junior market to the senior market.

Ladun, which operates across Saudi Arabia, previously announced its intention to make the upgrade at the end of last year.

New initial public offerings have slowed across the GCC after the outbreak of the US-Israeli conflict with Iran. In Saudi Arabia new listings fell to an eight-year low, with only two companies raising just $122 million between them in the first half of the year.

In the corresponding period in 2025, six companies raised a combined $2.8 billion.

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