RIYADH: Three Saudi firms received regulatory approval to list on Nomu in a single day, underscoring growing investor appetite for the Kingdom’s bourses.
Zahr Al Khuzama Aluminum, Sahat Almajd Trading, and Quality Education Co. were given the green light by the Capital Market Authority on June 18, marking a rare instance of multiple listings being cleared simultaneously.
This paves the way for all three companies to offer shares exclusively to qualified investors, with each expected to publish its prospectus ahead of the offerings.
The surge in simultaneous approvals comes amid broader reforms to Saudi Arabia’s capital markets, as the Capital Market Authority rolls out new frameworks — including regulations for special purpose acquisition companies — to expand financing options and boost private-sector participation.
An official release stated that Sahat Almajd Co. Trading will float 4.375 million shares on the parallel market, representing 11.11 percent of its capital.
