New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    EU preparing 'further countermeasures' to protect its interest, von der Leyen says    Saudi Arabia urges stronger global action to protect children in cyberspace at UN    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Saudi Arabia posts SR49.8 billion travel surplus in 2024 as visitor spending hits SR153.6 billion    911 emergency centers handle over 2.8 million calls in March    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



New listings surge on Saudi secondary market
Published in The Saudi Gazette on 27 - 02 - 2017

Most new listings surged on Saudi Arabia's secondary market as that bourse, which has less onerous listing requirements than the main stock market, opened its doors for the first time on Sunday.
In the new Saudi Parallel Market, where seven stocks started trading, retailer Abdullah Saad Mohammed Abo Moati Stationaries rose 6.7 percent from its initial public offer price in volume of a little over 1 million shares.
Raydan Cuisines climbed 6.3 percent and Al-Omran Industrial and Trading Co jumped 11 percent.
The new market, called Nomu, is designed to boost the role of small and medium firms, the bourse said.
The new market "is an alternative trading platform with lighter listing requirements compared to the main market," the Saudi Stock Exchange, Tadawul, said on its website.
Nomu requires firms to have a market value of at least SR10 million, a minimum of 35-50 shareholders, and at least 20% of shares publicly owned.
The second market opens new investment possibilities for listed companies in terms of diversifying funding resources to further increase growth and business development, said Minister of Commerce and Investment Majed Al-Qasabi on his Twitter account after the parallel market started trading.
Firms listing on the main market must have a minimum capitalization of SR100 or 10 times that of the new platform.
Under the Kingdom's wide-ranging Vision 2030 plan to diversify the oil-dependent economy, small and medium sized firms are to contribute 35% of gross domestic product, up from 20%.
The Tadawul All-Shares Index, which has a capitalization of about $400 billion opened to direct investment by qualified foreigners for the first time in 2015.
Under Vision 2030, the Kingdom plans to float less than 5% of state oil company Saudi Aramco on stock markets, in the world's largest initial public offering.


Clic here to read the story from its source.