Riyadh, Saudi Arabia — Cenomi shares surge 6% after UAE-based Al-Futtaim Retail confirmed its acquisition of a 49.95% stake. The announcement boosted investor sentiment and lifted Cenomi’s market capitalization to around SAR 4 billion.

Cenomi Shares Rise on Al-Futtaim Stake Deal

The share price jump followed the signing of a share purchase agreement involving key shareholders—Fawaz, Abdulmajeed, Salman Alhokair, FAS Saudi Holding, and FAS Real Estate. Under the deal, about 57.3 million shares will transfer to Al-Futtaim Retail at SAR 44 per share, valuing the transaction at SAR 2.522 billion.

Strengthened Backing: Capital Infusion and Operational Support

Beyond equity, the agreement includes a shareholder loan of at least SAR 1.3 billion from Al-Futtaim. This structure strengthens Cenomi’s financial position and enables future investments. Moreover, Al-Futtaim brings regional retail expertise and a portfolio of global brand partnerships, which are expected to improve Cenomi’s market positioning and operational performance.

Retail Recovery in Motion: Cenomi Turns a Corner

Cenomi’s financial turnaround began in Q1 2025, when it reported a net profit of SAR 1.8 million. This marked a sharp reversal from a SAR 152 million loss in Q1 2024 and a SAR 197.5 million full-year loss. With 880 stores across 159 malls in nine countries, the company appears poised to regain momentum in the regional retail market.

 

 

THE SAUDI STANDARD’S VIEW: Cenomi-Al-Futtaim Deal Signals Retail Market Resilience

Cenomi Retail’s 6% stock rally—triggered by Al-Futtaim’s SAR 2.5 billion acquisition—underscores the growing maturity of Saudi Arabia’s retail sector and the strength of Tadawul as a capital platform.

  • Institutional investment is expanding. Al-Futtaim’s entry as a strategic partner signals deeper regional integration and growing confidence in Saudi retail assets.
  • The SAR 1.3 billion shareholder loan shows a long-term commitment. It offers financial flexibility while accelerating Cenomi’s transformation into a more competitive operator.
  • Cenomi’s profit turnaround is timely. The company’s return to positive earnings reflects improving fundamentals, stronger governance, and renewed investor trust.
  • Regulatory maturity matters. The deal highlights Tadawul’s ability to support complex, negotiated transactions—a sign of institutional strength and transparency.

In summary, Cenomi’s repositioning—supported by Al-Futtaim’s capital and capabilities—demonstrates how distressed assets can be restructured into resilient growth platforms. This deal is a model for future cross-border retail consolidation under Vision 2030, linking private investment with national economic diversification

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