Nomu - Parallel Market will be formally launched on 26 February
The new platform will be formally launched on 26 February, Tadawul said in a statement posted on its website. The alternative market will have lighter listing requirements. It is designed for small and medium-sized enterprises, requiring a market value of at least SR10m ($2.67m), minimum shareholder size of 35-50 shareholders, and an offering of at least 20 per cent.
Nomu - Parallel Market opens new investment possibilities for listed companies in terms of diversifying funding resources to further increase growth and business development, , the exchange said in the statement adding that the listed firms will be obligated to apply governance and disclosure standards.
Institutions can directly invest in the listed firm on Nomu. Direct trading is also allowed for individuals who are classified as qualified investors, the exchange said adding that non-qualified investors will have the option of trading through investment funds or portfolios managed by authorised persons by the CMA.
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