Tadawul unveils major changes to Nomu Parallel Market

The Saudi Stock Exchange (Tadawul) today announced in a statement a series of significant measures to boost liquidity as well as listings on the Nomu - the Parallel Market.

These new measures will be implemented in two phases; the first in Q1 2019 and the second in Q2 2019.

Newly announced measures include allowing direct listings on Nomu without an initial public offering (IPO); determining the regulations pertaining to the listing of the Nomu companies on Tadawul, turning quarterly financials into semi-annual statements, updating the minimum liquidity threshold, cutting the minimum threshold of share transactions, and introducing the Nomu Capped Index.

Changes to be rolled out in the second phase include listing close ended funds and real estate investment trusts (REITs) on Nomu; implementing the fluctuation limits and setting up a new fund for researches and analytical studies.

“These measures come within Tadawul’s strategy to boost the Nomu- Parallel Market’s performance, they also coincide with the Saudi market’s planned inclusion in FTSE Russell and S&P international indices as an emerging market in March 2019,” stated Khalid Al Hussan, Chief Executive Officer of Tadawul.