CMA green lights Saudi Networkers Services direct listing on Nomu

Nomu trading screen

The Capital Market Authority (CMA) approved today, June 7, Saudi Networkers Services Co.’s (SNS Group) application to register and list 1.5 million shares, representing 25% of its share capital, on Nomu-Parallel Market, according to authority’s website. 

The offer will be confined to qualified investors stipulated in the glossary of defined terms used in the regulations and rules of the CMA. The prospectus will be published within sufficient time prior to the start of the direct listing. 

Prospective qualified investors should conduct their own due diligence on the information disclosed in the prospectus. If it proves difficult to understand, consulting with an authorized financial advisor prior to making any investment decision is recommended. 

The CMA's approval of the application should never be considered as a recommendation to invest in the company’s offering or shares. The approval merely means that the legal requirements, as per the Capital Market Law and its executive regulations, have been met. 

The approval is valid for six months from the CMA’s board resolution date. The approval is deemed canceled if the target listing of the company's shares is not completed within this period. 

The company was established in late 2001 in Riyadh. It operates in the information technology sector and offers its services to different companies.    

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