Saudi CMA approves 3 parallel market listings in a single day
RIYADH: Three Saudi firms received regulatory approval to list on Nomu in a single day, underscoring growing investor appetite for the Kingdom's bourses.
Zahr Al Khuzama Aluminum, Sahat Almajd Trading, and Quality Education Co. were given the green light by the Capital Market Authority on June 18, marking a rare instance of multiple listings being cleared simultaneously.
This paves the way for all three companies to offer shares exclusively to qualified investors, with each expected to publish its prospectus ahead of the offerings.
The surge in simultaneous approvals comes amid broader reforms to Saudi Arabia's capital markets, as the Capital Market Authority rolls out new frameworks — including regulations for special purpose acquisition companies — to expand financing options and boost private-sector participation.
An official release stated that Sahat Almajd Co. Trading will float 4.375 million shares on the parallel market, representing 11.11 percent of its capital.
Quality Education Co. will offer 2.5 million shares, accounting for 20 percent, while Zahr Al Khuzama Aluminum can offer 300,000 shares, also representing 20 percent.
The approvals highlight the role of Nomu as a streamlined listing venue designed to enable micro, small, and medium-sized enterprises to access capital. With lighter requirements for market capitalization, public float, and disclosure, it offers a more accessible alternative to the main market.
In 2024, Nomu recorded 28 initial public offerings and three direct listings, raising over SR1.1 billion ($293.2 million).
The platform has become central to Saudi Arabia's efforts to deepen its equity markets and support SMEs, which now constitute 30 percent of listed companies in Saudi Arabia.
The Kingdom is targeting a 35 percent contribution from the SME sector to its gross domestic product by 2030, in line with the Vision 2030 economic diversification plan.
Investor appetite for listings remains strong. Al Rajhi Capital forecasts 50 to 60 IPOs across Saudi exchanges over the next two years.
Separately, EY projects 27 IPOs in Saudi Arabia in 2025 — out of 38 corporate listings anticipated across the Middle East and North Africa region — along with 22 fund listings.
The triple listing approvals came as Nomu posted a dip in market performance but maintained healthy trading activity.
On June 18 — the same day the CMA cleared the three IPOs — the Nomu index closed at 26,203.84, down from 26,458.24 the previous day.
Despite the decline, the market recorded a volume of 3.58 million shares traded across 5,651 transactions, reflecting continued engagement from qualified investors.
Over the past month, Nomu's index has retreated from a high of 27,499.65 on May 19, with intermittent recoveries.
Trading volumes have remained relatively stable, averaging around 3.2 million to 4.5 million shares daily.
The highest daily value traded during this period reached SR50.4 million on June 1, signaling strong liquidity ahead of the CMA's latest approvals.
Over the past month, Nomu recorded an average daily trading value of SR36.36 million.
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