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Saudi Exchange Proposes Sweeping Rule Changes to Broaden Access to Nomu Parallel Market

Prime Highlights

  • Tadawul opens public consultation until August 19 for planned rule amendments to increase access to the Nomu Parallel Market.
  • Reforms would redefine “qualified investors,” streamline listing criteria, and be harmonized with the amended Companies Law and CMA regulation.

Key Facts

  • August 19, 2025, is the consultation deadline.
  • The reforms aim to drive listings and support Vision 2030 through the encouragement of private sector engagement.

Key Background

Saudi Exchange, Tadawul, has released draft regulations that seek to broaden the scope of investor participation and stimulate market activity in the Nomu Parallel Market. The draft regulations, subject to public consultation until August 19, 2025, seek to redefine the definition of “qualified investors” and waive some of the listing requirements for the sake of inviting the market to wider participation.

One of the most solid proposals is to introduce a new category in the qualified investor regime for Nomu. Its expansion will enable more institutional and individual investors to enter the market, which has acted as a platform for small and medium-sized enterprises (SMEs) to source alternative funds for decades.

The amendments further suggest aligning the levels of market value—both of listed stocks and entire listing market value—into consistency with the new Companies Law and regulations mandated by the Capital Market Authority. The alignment would allow regulatory regimes to enjoy consistency as well as facilitate the listing process for potential issuers.

The reforms are aimed to be part of a wider Saudi Arabian economic reform strategy under Vision 2030, wherein there is focus on diversifying sources of funding and building the role of the private sector in capital markets. In simplifying regulation and broadening access, Tadawul looks forward to the Nomu market attracting more listings, more investor activity, and further establishing Saudi Arabia as a regional financial center of competitiveness.

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