Markets Saudi Comic Con organiser sells shares in IPO By Pramod Kumar May 26, 2025, 5:17 PM Time Entertainment/ComicCon Arabia A desk at a Comic Con Arabia event in Jeddah. Time Entertainment is selling 20 percent of its shares in an IPO on Saudi Arabia's Nomu exchange Time Entertainment raising up to $4.2m 20% stake floating on Nomu SAR76-80 price range The organiser of World Wrestling Association events in Saudi Arabia and the first Comic Con, a convention celebrating comic books, is selling shares to the public as the kingdom offers more entertainment opportunities to its population. Riyadh-based Time Entertainment is selling 200,000 shares, a 20 percent stake, to raise as much as SAR16 million ($4.27 million) in an initial public offering (IPO) on the kingdom’s junior exchange, Nomu, lead manager AlKhair Capital said in a statement. The book-building exercise ends on June 1, with the price range set at between SAR76 and SAR80 per share. Time Entertainment was founded in 2012 and has since been responsible for the Formula E closing and opening ceremony for season 9, the Jeddah season, the Roshn Saudi League closing ceremony and Winter at Tatnora. Skills shortage a concern for Saudi’s big-ticket events Saudi IPOs bounce back ‘quicker than expected’ Mickey Mouse meets the Middle East in Abu Dhabi The Saudi government is targeting the entertainment sector to contribute 4 percent to the kingdom’s economy and create 450,000 jobs by 2030. Previously one of the few countries in the world to ban cinemas and segregate restaurants by gender, under Vision 2030, Saudi Arabia is transforming its economy and society to reduce its reliance on hydrocarbons and open up the country to tourism. The state-run General Entertainment Authority has earmarked investment of up to $64 billion by 2028 to develop the domestic entertainment sector. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
