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

Armah Sports Company, a Saudi sports and fitness services provider, initiated trading on the Saudi Exchange after transferring from the parallel market, Nomu. The company's shares, denoted by the symbol 6022, are classified under the consumer services sector and debuted at 55 riyals, mirroring its last closing price on Nomu. Armah's initial trading session saw a 10% increase, propelling its share value to 60.50 riyals by 11:15 a.m. This transition to the main market grants Armah access to a wider pool of investors, including individual and institutional investors, as well as investment funds.

The move bolsters the company's financial standing and broadens its investor base, positioning Armah for steady growth. With 23 companies transitioning from Nomu to the main market since its launch, the Saudi Exchange now hosts 252 listed companies. Armah's growth trajectory is evident in its financial performance, with revenues rising by 11% to 113.7 million riyals in the first half of 2026 and net profit increasing by 35% year-on-year, excluding a non-recurring item from the same period in 2025.

The company's second-quarter results demonstrated further momentum, with revenues up 17% to 60 million riyals and net profit surging 48% to 12.6 million riyals compared to the same quarter in 2025. Armah's expansion strategy centers around its Optimo and Be Fit brands, aiming to establish 50 clubs across the Kingdom by 2030. This strategy emphasizes disciplined growth, operational efficiency, and crafting tailored sports and fitness experiences for various customer segments.

Fahad bin Ali Al-Haqbani, Armah's Vice Chairman and CEO, expressed optimism about the company's listing on the main market, stating it represents a significant milestone and aligns with the company's strategic objectives. The Saudi Exchange granted Armah's request for main market listing on August 9, 2026, allowing the company to commence trading. Armah's capital stands at 328,591,660 riyals, parceled into 32,859,166 shares.