AI Summary
Logo of The Saudi Exchange (Tadawul)
The Saudi Exchange (Tadawul) announced that the Capital Market Authority (CMA) issued a resolution on Nov. 24, approving the amended Listing Rules, along with the glossary of terms used in the updated Market Rules.
In its statement, Tadawul explained that the amendments aim to enhance the categories of qualified investors in the Nomu-Parallel Market by adding a new category of qualified investors and updating the criteria and conditions required for investors to be eligible to trade and invest in the market.
These changes are expected to support the expansion of the investor base in Nomu.
The updates also include revisions to the public float market capitalization requirement and the total market capitalization requirement at the time of listing for all shares to be listed on Nomu.
Additional amendments were introduced to align the rules with the CMA’s regulations, reflecting updates made under the Companies Law.
Amendments to Listing Requirements in Nomu
|
Target Group |
Requirement |
Update |
|
Issuers |
Minimum total market capitalization at IPO in the Nomu |
Increased from SAR 10 million to SAR 50 million |
|
|
Minimum market capitalization of publicly held shares when less than 20% is offered to the public |
Increased from SAR 30 million to SAR 50 million, with a new requirement that public ownership of the relevant share class must not be less than 10% |
|
Amendments to Qualified Investor Categories in Nomu |
|
||
|
Target Group |
Previous Requirement |
Updated Requirement |
|
|
Investors |
Executed trades in securities totaling at least SAR 40 million and at least 10 transactions in the past 12 months |
Executed trades totaling at least SAR 20 million and at least 6 transactions in the past 12 months |
|
To review the amended Listing Rules, please refer to the attached document
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