CMA approves listing of 4 companies on Nomu

Nomu trading screen

The Capital Market Authority (CMA) approved the requests of Tam Development Co., Knowledge Net Co., AlMuneef Co. For Trade, Industry, Agriculture and Contracting, as well as Waja Co. to register their shares for direct listing on Nomu-Parallel Market, according to Tadawul website.

Tam Development will offer 585,600 shares, or 16% of capital, on Nomu, while Knowledge Net will float 700,000 shares, representing 20% of capital.

As for AlMuneef, it will offer 760,000 shares, or 20% of its capital. Waja will also float 13% of its capital, representing 455,000 shares.

The subscriptions will be confined to qualified investors stipulated in the glossary of defined terms used in the CMA regulations and rules. The registration document will be published within sufficient time prior to listing.

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

The CMA’s approvals on the application should never be considered as a recommendation to invest in the shares of the company.

The approvals on the application merely mean that the legal requirements as per the Capital Market Law and its Executive Regulations have been met.

Further, the approvals are valid for six months from the CMA's resolution date. They will be deemed cancelled if the listing of the company's shares is not completed within this period.

For More IPOs