Saudi Arabia’s Capital Market Authority (CMA) on March 31 approved the application from Riyadh-based National Fertilizer Co. to register shares for direct listing on the Kingdom’s parallel equity market, “Nomu,” according to a report by the Saudi financial news portal, Argaam, citing a CMA statement.
The approval on the application will be valid for six months from the CMA Board resolution date, and the approval will be cancelled if the listing of the companies’ shares is not completed within this period.
Nomu, launched in February 2017, has “lighter” listing requirements than the Saudi Stock Exchange Tadawul.