What's your opinion about the new saudi parallel market (nomu) and what do you know about it?

Parallel Market is a step towards fulfilling Tadawul’s plans to further develop the capital market which stress the importance of developing a more advanced capital market open to the world, allowing greater funding opportunities and stimulating economic growth. This will in turn generate more diverse investment opportunities and instruments for all capital market participants.

ADMISSION REQUIREMENTS:

-Minimum market cap of SAR 10 million.-

-At least 20% of shares owned by the qualified public, with no single investor owning more than 5% .

-Min 1 year of operational and financial performance.

-Financial advisor mandatory, legal advisor optional.

-Annual audited financial statements.

-Quarterly reviewed financial statements.

-Disclosure of material information.

-No profitability track record required.

-Lock Up Period: 100% of pre-offering investor shares for one year.

-If the expected aggregate market value for all shares to be listed exceeds SAR 40 million, at least 50 public shareholders are required. If the expected aggregate market value for all shares to be listed is less than SAR 40 million, at least 35 public shareholders are required.