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

Almosafer, Saudi Arabia's largest travel company, plans to list on the Tadawul main market by end of 2026 in a secondary offering, with proceeds returning to shareholder Seera Group. Despite the U.S.-Iran war impacting consumer, corporate, and UAE businesses, Almosafer posted record Q2 revenue and EBITDA, driven by hajj and umrah (net booking value up 43%) and surging domestic travel (45.5% of bookings). Corporate travel net booking value fell 25%, described as the war's longest-lasting impact.