The Capital Market Authority (CMA) of Saudi Arabia has initiated a 30-day public consultation, ending on May 8, 2025, to gather feedback on introducing Special Purpose Acquisition Companies (SPACs) to the Parallel Market, known as Nomu. This move aims to enhance market liquidity by increasing the number of listings.
According to the CMA, the proposed framework encourages private sector companies to list on Nomu through SPACs, thereby addressing the economy’s financing needs and diversifying investment products.
SPACs are entities established to raise capital through initial public offerings to acquire existing companies. The CMA’s draft regulations propose that SPACs be formed as joint stock companies in accordance with the Companies Law, focusing on merging with or acquiring Saudi non-listed companies.
