Latest news with #ParallelMarket
Barnama
a day ago
- Business
- Barnama
Saudi CMA Eases Investment Rules To Attract More Foreign Capital
BUSINESS KUALA LUMPUR, July 15 (Bernama) -- The Saudi Capital Market Authority (CMA) has approved a set of amendments to simplify investment account procedures for certain investor categories in a move aimed at boosting its capital market appeal. The regulatory update enables individual foreign investors residing in the Gulf Cooperation Council (GCC) countries to directly invest in the Saudi Main Market (TASI) for the first time. Previously, access for this group was limited to debt instruments, the Parallel Market (Nomu), investment funds, and derivatives — or was only possible through intermediated arrangements like swap agreements. The CMA also introduced a new provision allowing former residents of Saudi Arabia or GCC countries to retain and operate their investment accounts even after leaving the region. This move is seen as a step toward establishing Saudi Arabia as a durable, investor-friendly environment. These changes reflect the Kingdom's efforts to align with global regulatory trends and digital innovation while continuing to enhance investor protection and confidence, according to a statement. The broader strategy appears to be paying off. By the end of the first quarter of this year, foreign ownership in the Saudi market exceeded 500 billion Saudi riyals, while net foreign investment surged to 218 billion Saudi riyals by the end of 2024, marking a significant rise from 140 billion Saudi riyals in 2021. (100 Saudi riyals = RM113.43) Sustainable investments by Qualified Foreign Investors (QFIs) also grew notably, reaching 7.8 billion Saudi riyals last year — up 29 per cent year over year. This reform builds on a series of market-opening measures, including recent allowances for foreign investment in real estate firms operating in Makkah and Madinah, further positioning Saudi Arabia as a magnet for international capital. The CMA's latest facilitation underscores its commitment to making the Saudi capital market more accessible, competitive, and resilient on a global scale.
Argaam
3 days ago
- Business
- Argaam
Inspection period for Azm's transition document to end tomorrow; stock to be suspended on July 15
Saudi Azm for Communication and Information Technology Co. said that Monday, July 14, 2025, marks the final day of the public viewing period for the company's transition document related to its move from the Parallel Market to the Main Market, according to a statement to Tadawul. A trading halt will be placed on its shares on Tuesday, July 15, 2025, for a period not exceeding five trading days, during which the procedures for transitioning to the Main Market will commence. Saudi Tadawul approved in June the company's request to move from Nomu – the Parallel Market to the Main Market, with capital of SAR 30 million and a total of 60 million shares. Earlier in July, Azm published the official transition document detailing its move from the Parallel Market to the Main Market.
Saudi Gazette
27-05-2025
- Business
- Saudi Gazette
CMA refers a number of violators to Public Prosecution
Saudi Gazette report RIYADH — The Saudi Capital Market Authority (CMA) has referred a number of suspects to the Public Prosecution for their violation of the Capital Market Law and the Market Conduct Regulations. The CMA board decided to take the punitive action against the suspects for violating Article 49 of the Capital Market Law and Article 2 of the Market Conduct Regulations through their involvement in influencing the outcome of the share offering of National Building and Marketing Co. on the Parallel Market. They involved in the crime with the aim of creating a false and misleading impression regarding the security and the company's fulfillment of the liquidity requirements necessary for listing on the Parallel Market. Additionally, it was found their involvement in executing transition and transactions in order to fraudulently meet the eligibility criteria for the transition to the main market. The CMA emphasized to all market participants that unlawful practices involving fraud, deception, misrepresentation and manipulation constitute violations that subject perpetrators to legal accountability and the imposition of penalties under the Capital market Law and its implementing regulations. The CMA underscored its commitment to pursuing those who manipulate the capital market by monitoring their transactions, utilizing its authority under the Capital Market Law, and fulfilling its responsibility to protect citizens and investors from unfair or improper practices. The CMA is dedicated to ensuring justice, efficiency, and transparency in securities transactions.
Leaders
12-05-2025
- Business
- Leaders
CMA Chairman: SMEs Make Up 30% of Listed Companies in Saudi Market
Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), highlighted significant progress in supporting small and medium enterprises (SMEs) in Saudi Arabia's capital market. Speaking at the SME Support Council during 'Finance Week,' hosted by Monsha'at (the Small and Medium Enterprises General Authority), ElKuwaiz noted that the Kingdom has made considerable efforts in recent years to encourage public listings and diversify financing options for SMEs. He pointed out that companies in the Saudi market now have access to nine different financing options, most of which were introduced recently. Among the key initiatives, the launch of the Nomu Parallel Market stands out as a major enabler, easing the path for SMEs to enter the capital market. CMA According to a CMA press release, SMEs now represent 30% of listed companies in the Saudi capital market. Fourteen companies have successfully transitioned from Nomu to the main market, demonstrating the effectiveness of the CMA's supportive investment environment. ElKuwaiz reported that the Nomu Index has grown tenfold since its inception, with market capitalization soaring 26 times to nearly SAR 60 billion. Trading volumes also saw a significant boost, with liquidity increasing eightfold and total trades reaching SAR 14 billion in 2024. The CMA has overhauled listing requirements to align with global best practices, introducing direct listings and lowering regulatory hurdles through partnerships with strategic stakeholders. To further encourage listings, over 14 incentives have been launched in collaboration with various entities, targeting areas such as government procurement, credit ratings, and evaluation standards for listed firms. Fintech ElKuwaiz also underscored the growing influence of financial technology (fintech) in the capital market, noting that the sector's revenue surged by 105% compared to 2023. He emphasized the importance of credit ratings and company evaluations in improving access to financing, particularly through debt instruments, which are vital for sustainable market growth. Related Topics : Kafalah Program Boosts Saudi SMEs with 17% Growth in Q1 2025 Saudi Arabia's SMEs Record Highest Employment Growth in 10 Months Saudi Post SPL Wins 2024 TradePost Global Award for its SMEs Platform CMA Launches Public Consultation on New Investment Product for Parallel Market Short link : Post Views: 13
Zawya
09-04-2025
- Business
- Zawya
Saudi CMA calls for consultation to allow SPAC listings on Nomu
Saudi Arabia is looking to further increase stock market listings as it continues to diversify its economy. The Capital Market Authority (CMA) launched on Tuesday a public consultation on a draft regulatory framework that will allow businesses in the private sector to list on Nomu through Special Purpose Acquisition Companies (SPACs). The move is expected to positively impact liquidity levels by increasing the number of public listings in Saudi Arabia. 'If the draft is approved, SPACs will be offered on the Parallel Market and subsequently listed on Nomu,' the CMA said. The proposed draft includes requirements and regulations related to SPAC offerings. It also includes provisions that will apply to investors, as well as shareholders who may want to redeem shares after the completion of an acquisition or merger. The consultation will run for 30 days until May 8, 2025.
