RIYADH: Nomu, a parallel equities market in Saudi Arabia, is becoming a major avenue for funding the Kingdom’s non-oil economy. It also helps the government’s efforts to diversify by giving small and medium-sized businesses more access to public markets.
Experts told Arab News that over 60% of Nomu-listed companies work in fields including technology, healthcare, and logistics, which are in line with Vision 2030 aims and demonstrate the platform’s move away from hydrocarbons.
Century Financial’s chief investment officer, Vijay Valecha, told Arab News that the market has drastically altered who is able to access Saudi Arabia’s equities ecosystem.
By allowing smaller, rapidly expanding businesses that are not yet prepared for the main exchange to access the equity market, Nomu plays a crucial role in Saudi Arabia’s capital market. Large, well-established companies had mainly exclusive access to public equity markets before to Nomu’s 2017 launch. That framework was altered by Nomu,” Valecha remarked.
Nomu also plays an important role in diversification,” he continued. Non-oil industries like technology, healthcare, consumer services, logistics, and education account for almost 60% of listed businesses. These areas fall under Vision 2030’s priority list. Nomu promotes innovation, job creation, and private-sector growth by helping businesses raise growth capital.
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