Armah Sports begins trading on Saudi main market, targets 50 clubs by 2030

Armah Sports Company began trading its shares today on the main market of the Saudi Exchange, following its transition from Nomu, the parallel market, marking a new chapter in the company’s corporate and investment development.

The stock, trading under the symbol 6022 in the consumer services sector, opened at its last closing price on Nomu of 55 riyals. During its first session on the main market, the share saw positive performance, rising 10% to 60.50 riyals by 11:15 a.m.

The move allows Armah shares to be traded by a broader range of individual and institutional investors, as well as investment funds, strengthening the company’s presence in the financial market and expanding its investor base for future growth.

Armah is one of 23 companies to have moved from the parallel market to the main market since the launch of Nomu, coinciding with the number of listed companies on the main market reaching around 252.

The transition is supported by continued financial and operational growth. In the first half of 2026, revenues rose by 11% to 113.7 million riyals (SAR), while net profit reached 24.3 million riyals, a 35% increase year-on-year after excluding the impact of a non-recurring item recorded in the same period of 2025.

Second-quarter results showed further acceleration, with revenues up 17% to 60 million riyals and net profit climbing 48% to 12.6 million riyals compared to the same quarter last year.

Armah continues to pursue its expansion strategy through its Optimo and Be Fit brands, aiming to build a network of 50 clubs by 2030. The strategy focuses on disciplined growth, operational efficiency, and developing sports and fitness experiences tailored to diverse customer segments across the Kingdom.

Fahad bin Ali Al-Haqbani, Vice Chairman and CEO of Armah Sports Company, said:

“Armah’s move to the main market is a significant milestone for the company and reflects the progress we have made since our listing on the parallel market. We enter this phase with clear ambitions and a plan to reach 50 clubs by 2030, while maintaining disciplined growth, operational efficiency, transparency, and building sustainable value for our shareholders.”

The Saudi Exchange approved the company’s request to move to the main market on August 9, 2026, ahead of completing the transition and starting trading. The company’s capital stands at 328,591,660 riyals, divided into 32,859,166 shares.