Latest news with #ParallelMarket
Saudi Gazette
7 days ago
- Business
- Saudi Gazette
CMA refers a number of violators to Public Prosecution
Saudi Gazette report RIYADH — The Saudi Capital Market Authority (CMA) has referred a number of suspects to the Public Prosecution for their violation of the Capital Market Law and the Market Conduct Regulations. The CMA board decided to take the punitive action against the suspects for violating Article 49 of the Capital Market Law and Article 2 of the Market Conduct Regulations through their involvement in influencing the outcome of the share offering of National Building and Marketing Co. on the Parallel Market. They involved in the crime with the aim of creating a false and misleading impression regarding the security and the company's fulfillment of the liquidity requirements necessary for listing on the Parallel Market. Additionally, it was found their involvement in executing transition and transactions in order to fraudulently meet the eligibility criteria for the transition to the main market. The CMA emphasized to all market participants that unlawful practices involving fraud, deception, misrepresentation and manipulation constitute violations that subject perpetrators to legal accountability and the imposition of penalties under the Capital market Law and its implementing regulations. The CMA underscored its commitment to pursuing those who manipulate the capital market by monitoring their transactions, utilizing its authority under the Capital Market Law, and fulfilling its responsibility to protect citizens and investors from unfair or improper practices. The CMA is dedicated to ensuring justice, efficiency, and transparency in securities transactions.
Leaders
12-05-2025
- Business
- Leaders
CMA Chairman: SMEs Make Up 30% of Listed Companies in Saudi Market
Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), highlighted significant progress in supporting small and medium enterprises (SMEs) in Saudi Arabia's capital market. Speaking at the SME Support Council during 'Finance Week,' hosted by Monsha'at (the Small and Medium Enterprises General Authority), ElKuwaiz noted that the Kingdom has made considerable efforts in recent years to encourage public listings and diversify financing options for SMEs. He pointed out that companies in the Saudi market now have access to nine different financing options, most of which were introduced recently. Among the key initiatives, the launch of the Nomu Parallel Market stands out as a major enabler, easing the path for SMEs to enter the capital market. CMA According to a CMA press release, SMEs now represent 30% of listed companies in the Saudi capital market. Fourteen companies have successfully transitioned from Nomu to the main market, demonstrating the effectiveness of the CMA's supportive investment environment. ElKuwaiz reported that the Nomu Index has grown tenfold since its inception, with market capitalization soaring 26 times to nearly SAR 60 billion. Trading volumes also saw a significant boost, with liquidity increasing eightfold and total trades reaching SAR 14 billion in 2024. The CMA has overhauled listing requirements to align with global best practices, introducing direct listings and lowering regulatory hurdles through partnerships with strategic stakeholders. To further encourage listings, over 14 incentives have been launched in collaboration with various entities, targeting areas such as government procurement, credit ratings, and evaluation standards for listed firms. Fintech ElKuwaiz also underscored the growing influence of financial technology (fintech) in the capital market, noting that the sector's revenue surged by 105% compared to 2023. He emphasized the importance of credit ratings and company evaluations in improving access to financing, particularly through debt instruments, which are vital for sustainable market growth. Related Topics : Kafalah Program Boosts Saudi SMEs with 17% Growth in Q1 2025 Saudi Arabia's SMEs Record Highest Employment Growth in 10 Months Saudi Post SPL Wins 2024 TradePost Global Award for its SMEs Platform CMA Launches Public Consultation on New Investment Product for Parallel Market Short link : Post Views: 13
Zawya
09-04-2025
- Business
- Zawya
Saudi CMA calls for consultation to allow SPAC listings on Nomu
Saudi Arabia is looking to further increase stock market listings as it continues to diversify its economy. The Capital Market Authority (CMA) launched on Tuesday a public consultation on a draft regulatory framework that will allow businesses in the private sector to list on Nomu through Special Purpose Acquisition Companies (SPACs). The move is expected to positively impact liquidity levels by increasing the number of public listings in Saudi Arabia. 'If the draft is approved, SPACs will be offered on the Parallel Market and subsequently listed on Nomu,' the CMA said. The proposed draft includes requirements and regulations related to SPAC offerings. It also includes provisions that will apply to investors, as well as shareholders who may want to redeem shares after the completion of an acquisition or merger. The consultation will run for 30 days until May 8, 2025.
Zawya
26-03-2025
- Business
- Zawya
The Capital Market Authority calls for public consultation on the development of investor categories in the parallel market
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the draft "Development of Investor Categories in the Parallel Market", which includes proposed amendments to the categories of investors permitted to invest in the Parallel Market. The consultation period will last for 30 calendar days, ending on 30/10/1446H, corresponding to 28/04/2025. The proposed draft aims to develop the investor categories in the Parallel Market – Nomu by easing the criteria and requirements that investors must meet to be eligible to trade and invest in the market, which is expected to have a positive impact on the market. The key proposed amendments include revising the term "Qualified Investor in the Parallel Market" to refer exclusively to the categories eligible to invest in the market. The amendments also ease the criteria imposed on individual investors wishing to enter and invest in the Parallel Market – Nomu. Under the proposed criteria, an investor would be required to have completed transactions amounting to SAR 30 million during the past 12 months, with the removal of the requirement to execute at least ten transactions per quarter. Previously, the condition required completing transactions worth SAR 40 million through at least ten transactions during the past 12 months. This means eliminating the quarterly transaction count requirement and reducing the minimum transaction value by SAR 10 million. In addition, the proposed amendments include classifying the board members and members of the committees emanating from the board of directors in companies listed in the Parallel Market as qualified investors allowed to invest in the Parallel Market. The CMA emphasized that the comments of relevant and interested persons shall be taken into full consideration for the purpose of approving the final Proposed Amendments, which in turn shall contribute to the aim of enhancing and developing the regulatory environment. Opinions and comments can be received through any of the following: The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the National Competitiveness Canter through the following link: ( The prescribed form through the following email: ( The Draft can be viewed via the following link: The Draft to Develop the Categories of Investors in the Parallel Market Prescribed form for providing comments Contact: Capital Market Authority Communication & Investor Protection Division Media@ About CMA: The Capital Market Authority (CMA) in Saudi Arabia unofficially started in the early fifties, and continued to operate successfully, until the government set its basic regulations in the eighties. The current Capital Market Law is promulgated and pursuant to Royal Decree No. (M/30) dated 2/6/1424H, which formally brought it into existence. The CMA is a government organization applying full financial, legal, and administrative independence, and has direct links with the Prime Minister. For more information about CMA, please visit the official website:
Leaders
25-03-2025
- Business
- Leaders
CMA Seeks Public Feedback on Proposed Changes to Investor Categories in Parallel Market
The Capital Market Authority (CMA) has invited stakeholders and interested parties to provide their input on the draft proposal titled 'Development of Investor Categories in the Parallel Market.' The proposal outlines potential amendments to the eligibility criteria for investors in the Parallel Market – Nomu, with the consultation period open for 30 days until April 28, 2025. In a press release issued today, the CMA highlighted that the proposed changes aim to broaden investor participation in the Parallel Market by relaxing certain requirements. Additionally, these adjustments are expected to enhance market accessibility and stimulate growth. Key Proposed Amendments: Revised Terminology: The term 'Qualified Investor in the Parallel Market' will now apply exclusively to eligible investor categories. Eased Criteria for Individual Investors: The minimum transaction requirement for individual investors will be reduced from SAR 40 million to SAR 30 million over the past 12 months. The previous condition of executing at least 10 transactions per quarter will be removed. Expanded Eligibility for Board Members: Directors and committee members of companies listed on the Parallel Market will now be classified as qualified investors. Moreover, the CMA emphasized that all feedback will be carefully reviewed before finalizing the amendments, ensuring they align with the goal of fostering a robust and progressive regulatory framework. Finally, stakeholders may submit their comments via the following link: CMA Public Consultation Portal Related Topics : Saudi Investment Ministry Signs MoU with French CMA CGM Mawani, CMA CGM Lay Foundation for Logistic Area at Jeddah Islamic Port GII Acquires Licensed Investment, Asset Management Firm in KSA Saudi Arabia to Spotlight Industrial Innovation at Hannover Messe 2025 Short link : Post Views: 3 Related Stories
