Saudi OTA Almosafer on Track for Year-End IPO Despite Iran War Disruption

Almosafer, Saudi Arabia’s largest travel and tourism company, is on track to list on the kingdom’s main stock exchange before the end of this year, even as it works through a tough operating climate shaped by the U.S.-Iran war. “The company’s owner, Seera Group, always had a plan to list Almosafer on the main market of Saudi stock exchange Tadawul by the end of 2026,” CEO Muzzammil Ahussain told Skift. “While there is no specific listing date at this time, Almosafer is working on internal readiness while monitoring market conditions.” The planned transaction will be a secondary offering rather than a capital raise, Ahussain said, with the proceeds “going back to the shareholder.” Almosafer is “well-capitalized, self-sufficient in our funding, and has a strong balance sheet,” he said. IPO activity has been muted in Saudi Arabia this year following the outbreak of the Iran war, with just two small listings on the main market s