Saudi CMA greenlights Nomu listing, IPO of 2 companies

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Gulf Applications plans to list 6.25mln shares, equivalent to 20% of its share capital, according to a bourse disclosure

Staff Writer, Mubasher

June 27, 2024

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Riyadh – The Capital Market Authority (CMA) approved the request of Gulf Applications Company to float its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).

Gulf Applications plans to list 6.25 million shares, equivalent to 20% of its share capital, according to a bourse disclosure.

Fourth Milling Company also obtained the regulatory nod for its initial public offering (IPO) to trade 162 million shares, accounting for 30% of its share capital, on Tadawul.

The CMA greenlighted the two offerings on 26 June 2024.

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