Latest news with #QualityEducation
Arab News
18 hours ago
- Business
- Arab News
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.
Argaam
a day ago
- Business
- Argaam
CMA OKs QEC's 2.5M share sale on Nomu
The Capital Market Authority (CMA) approved the application of Quality Education Co. (QEC) to register and float 2.5 million shares on the Nomu-Parallel Market. The offer shares account for 20% of the company's share capital. For More IPOs They will be offered to qualified investors stipulated in the glossary of defined terms used in the CMA regulations and rules. The prospectus will be published within sufficient time prior to the offering's start, the market regulator said in a statement today, June 18. Investors should carefully read the offer prospectus and thoroughly study it to be able to assess the feasibility of taking into consideration the associated risks. If proven difficult to understand, it is recommended to refer to the offering manager before making an investment decision, the statement added. The CMA confirmed that its approval is valid for six months and will be void if the share offering and listing are not completed within this period. QEC was founded in 2009 and operates across multiple sectors in Saudi Arabia, offering educational, training, healthcare, logistics, and technology services, according to the company's website.
Yahoo
2 days ago
- Business
- Yahoo
Lingnan comes No. 1 Worldwide in Quality Education - A significant first for Hong Kong
HONG KONG, June 18, 2025 /PRNewswire/ -- Lingnan University has marked a historic milestone with its worldwide first for SDG 4: Quality Education in the Times Higher Education (THE) Impact Rankings 2025. This is the first time a Hong Kong higher education institution has reached the top position internationally in any SDG category and demonstrates the University's valuable contributions to advancing quality education and advocating the United Nations Sustainable Development Goals (SDGs). Prof S. Joe Qin, President and Wai Kee Kau Chair Professor of Data Science, expressed his delight, saying, "The University is greatly encouraged by this outstanding achievement. Being No. 1 in the world for Quality Education confirms Lingnan's unwavering commitment to delivering top-tier education on a global scale. It also highlights Lingnan's dedication to fostering lifelong learning opportunities across diverse sectors of society through innovative teaching, effective knowledge transfer, and active community engagement. Moreover, Lingnan is one of the first universities in Hong Kong to provide free access to different versions of ChatGPT for staff and students, with the recent introduction of the DeepSeek option further improving research and work efficiency. These initiatives not only reflect our leadership by supporting inclusive, high-quality education but also our broader mission of creating a transformative societal outcome. Lingnan's excellence in research, teaching, and community outreach continues to drive real progress in advancing the United Nations' Sustainable Development Goals." President Qin noted that Lingnan University was placed first among the eight publicly funded universities in Hong Kong for "Undergraduate satisfaction with the quality and value gained from their teaching and learning experience" as assessed in the University Accountability Agreement for the 2022–2025 Triennium by the University Grants Committee (UGC). This latest position again affirms that Lingnan's excellence in quality education is recognised both locally and internationally. THE Impact Rankings rate universities all over the world based on their steps toward achieving the 17 United Nations Sustainable Development Goals (SDGs), and this year, 2,526 universities from 130 countries/regions participated, 1,975 pursuing the most competitive goal, SDG 4: Quality Education. Lingnan gave a strong performance throughout, and also climbed 100 places from last year, coming between 101 and 200 worldwide in the overall Impact Rankings. View original content to download multimedia: SOURCE Lingnan University Sign in to access your portfolio
