RIYADH: Saudi Arabia’s parallel equity market Nomu is emerging as a central channel for financing the Kingdom’s non-oil economy, widening access to public markets for small and medium enterprises while supporting the government’s diversification push.
More than 60 percent of Nomu-listed firms operate in sectors such as technology, healthcare and logistics — industries aligned with Vision 2030 priorities — highlighting the platform’s shift away from hydrocarbons, experts told Arab News.
Speaking to Arab News, Vijay Valecha, chief investment officer at Century Financial, said the market has fundamentally changed who can access Saudi Arabia’s equity ecosystem.
“Nomu plays a foundational role in Saudi Arabia’s capital market by opening the equity market to smaller, fast-growing companies that are not yet ready for the main exchange. Before Nomu was launched in 2017, access to public equity markets was largely limited to large, established firms. Nomu changed that structure,” said Valecha.
He added: “Nomu also plays an important role in diversification. More than 60 percent of listed companies come from non-oil sectors such as technology, healthcare, consumer services, logistics, and education. These are priority sectors under Vision 2030. By helping these firms raise growth capital, Nomu supports job creation, innovation, and private-sector expansion.”
