Nomu Parallel Market
Nomu — the Parallel Market — is the Saudi Exchange's venue for growth companies, launched in 2017 to give smaller and mid-sized enterprises a route to public capital without the full weight of the Main Market. Its design is deliberate: lighter listing thresholds, half-yearly rather than quarterly reporting, and access restricted to qualified investors, who are presumed better able to assess the higher risk profile of growth-stage equities. For the right company, Nomu is both a financing channel and a discipline — the governance, disclosure, and reporting standards of a public listing, calibrated to the company's scale. It is also a recognized stepping stone: companies that meet the Main Market's requirements can migrate after two calendar years on Nomu, and several have. The investor pool has been widening, with the Capital Market Authority easing qualified-investor criteria most recently in late 2025, and all categories of non-resident foreign investors now able to participate. This hub collects Elevare Partners' analysis of Nomu for growth companies and their boards: the eligibility thresholds, who can invest, how the market's trading mechanics differ from the Main Market, and how to decide whether Nomu or the Main Market fits a company's stage and strategy. The lighter framework is a feature, not a discount on rigor.
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In the market digest
Saudi banks Q2 net profit rises 12.5% to SAR 24.87B; SABIC narrows loss
Tadawul-listed lenders post record quarterly earnings, SABIC declares SAR 3.3B H1 dividend, and PIF signs $24.5B financing MoUs with US EXIM and World Bank arms.
Saudi banks post Q2 profit gains; Al Rajhi leads at SAR 7B
Al Rajhi, SNB, Riyad and Alinma report higher Q2 2026 earnings; SNB approves SAR 6.9B H1 dividend as TASI closes at 10,777.87.
CMA opens commodity exchange licensing; ACWA sets 2026-2030 dividend policy
CMA opens 123-day window for commodity exchange authorization; ACWA Power proposes SAR 0.46/shr dividend and multi-year payout policy; Nomu adds MSGA Investment.
TASI ends June up 2.9% YTD; SMC-led consortium wins SAR 3.8B PPP
TASI closes June 30 at 10,799.92; CMA approves BaraSeen Nomu listing and Naseej SAR 163.5M rights issue; SMC Healthcare consortium awarded 15-year behavioural hospital PPP.
ADES to acquire Saipem unit for SAR 1.07B; Ladun wins SAR 2.39B Riyadh contracts
ADES adds five jack-up rigs and SAR 3.8B in backlog; Ladun-led consortium signs Royal Commission for Riyadh City development deals; CMA clears Naseej rights issue.
TASI ends week at 11,013 pts; CMA clears Standard Chartered for asset management
Tadawul turnover holds near SAR 5.7B, CMA approves Standard Chartered Capital for investment management, and listed firms disclose contracts, dividends and buybacks.
MGC sets IPO price range targeting up to SAR 3B; TASI ends week at 11,002
MGC opens institutional book-building at SAR 11-12.50 per share, SGS lands SAR 6.3B Saudia contract, and Tadawul consults on debt-market rule changes.
Aramco exits PRefChem JV; CMA convicts Saudi German Health board over financials
Aramco transfers Pengerang stakes to PETRONAS, CMA fines Saudi German Health board ~SAR 18M, MSGA files Nomu prospectus, and Tadawul auction trades SAR 5.7B.
PIF Board approves 2026-2030 strategy; TASI ends week at 11,589
PIF sets three-portfolio structure targeting six domestic ecosystems; TASI closes at highest level since October 2025 on SAR 4.63B turnover.
Frequently asked questions
Who can invest in Nomu?
Nomu is restricted to qualified investors as defined by the CMA — capital market institutions, government and recognized international entities, qualified foreign investors, and certain other legal and natural persons. Eligible individuals include those meeting thresholds on portfolio size or trading activity, holders of relevant professional qualifications or degrees in finance, accounting, or investment, and serving or former board members of Nomu-listed companies. The criteria were eased in late 2025.
What are the listing requirements for Nomu?
Per the Saudi Exchange, the issuer must be a joint-stock company with a minimum market capitalization of SAR 50 million, a public float of at least 20% of issued shares (or SAR 50 million worth) with at least 10% public ownership, at least 50 public shareholders at listing, one year of operating history, and a one-year lock-up on pre-offering shares. No profitability track record is required. Confirm the current thresholds against the Saudi Exchange listing rules.
Can a Nomu company move to the Main Market?
Yes. A Nomu issuer can transition to the Main Market after completing two calendar years on Nomu and meeting the Main Market's listing requirements, except that the market-capitalization test is lower — a minimum average market cap of SAR 200 million over the last twelve months. The board must approve and disclose the transfer before the relevant trading session. Several companies have made this move.