Saudi market authority studying six IPO requests: report

Saudi Arabia’s market regulator, the Capital Market Authority (CMA), is studying requests from six company to float shares in an initial public offerings (IPO) on both the Saudi Stock Exchange (Tadawul) and the Nomu Parallel Market, Aleqtisadiah newspaper reported, citing Wisam Al Freihi, CMA’s offerings and merger & acquisition manager.

These companies are operating in the fields of industry, retail and logistics, he added.

A total of 20 companies have appointed licensed financial advisors to manage share-listing requests on the Nomu Parallel market. However, no official requests have been sent to the CMA.

Tadawul previously said that around 70 companies have already showed interest in share offering, depending on the market conditions.

In February, Tadawul launched the Nomu Parallel Market, on which nine companies have been listed so far.