A look at cancelled IPOs on Nomu since inception

Nomu trading screen

The number of listings on the Nomu-Parallel Market reached 123 since its launch in February 2017. However, several initial public offerings (IPOs) have been canceled and left incomplete.

Since Nomu’s inception, 11 offerings have been canceled, starting with Alramz Real Estate Co. in December 2022 and most recently Rawabi Marketing International Co. on Sept. 8. In addition, two companies never disclosed subscription results.

This year alone marked the highest number of cancellations, with IPOs of Rawabi Marketing, Dom International Investment Co., Al Khaldi Logistics Co., and International Unions For Trade Co.(IUTC), which was scrapped even before its launch.

Cancellation reasons range from incomplete procedures, or strategic decisions by companies to postpone market entry for better returns to shareholders and investors.

 Among the companies that canceled their offerings, Alramz Real Estate and Abdul Aziz Al-Tuwaijri Trading obtained Capital Market Authority (CMA) approval last June to re-register and proceed with new listings.

Al-Qahtani Auctions appointed Amwal Financial in October 2023 as advisor for its Nomu listing. Hamad & Ahmed Al Mozaini Real Estate Co. signed an agreement with Yaqeen Capital in June 2025 to arrange its IPO on Nomu, before terminating the deal in July 2025.

In total, 12 companies failed to complete offerings despite CMA approval. The regulator grants issuers a six-month window to finalize the IPO and list shares on the market.