Riyadh – Mubasher: The Saudi stock Exchange (Tadawul) plans to launch Nomu - Parallel Market on 26 February, 2017, after the Capital Market Authority (CMA) issued the listing rules last Thursday.
Launching Nomu - Parallel Market is a step towards fulfilling Tadawul’s plans to achieve the objectives of the 2030 Vision, which stress the importance of developing a more advanced capital market open to the world, allowing greater funding opportunities and stimulating economic growth, according to a bourse filing.
The parallel market will open new investment possibilities for a wide range of companies – including SMEs – to benefit from listing in the capital market with less listing requirements compared to the main market in terms of market value, number of shareholders, and offered shares’ percentages, the statement said.
The statement noted that trading in Nomu is limited to “Qualified Investors” and retail investors, who are not classified as Qualified Investors, can access the market through investment funds with diversified investment strategies, which mitigate any risks of direct investment.
