Saudi Arabia’s Capital Market Authority (CMA) approved the registration and share offerings of three firms on the Nomu parallel market—Zahr Al Khuzama Aluminum, Quality Education Company and Sahat Almajd Company Trading—marking a rare simultaneous clearance.
Zahr Al Khuzama will offer 300,000 shares, equivalent to 20% of its issued capital. Quality Education plans to sell 2.5 million shares (20%), while Sahat Almajd will list 4.375 million shares or 11.11% of its equity. All offers are restricted to qualified investors, with prospectuses to follow ahead of the listings.
The approvals reflect CMA’s strategy to deepen mid-cap finance through Nomu, which offers streamlined requirements on capitalisation, public float and disclosures. In 2024, the platform hosted 28 initial public offerings (IPOs) and raised over SAR 1.1 billion in proceeds.
This surge supports Saudi Vision 2030’s goal of increasing SME contribution to GDP to 35% by boosting access to capital markets. Analysts at Al Rajhi Capital forecast 50 to 60 listings across Saudi markets over the next two years, while EY anticipates 27 IPOs in 2025 and 22 fund listings across the MENA region.
