DUBAI, March 14 Saudi Arabia's Capital Market
Authority (CMA) has received enquiries from companies from the
Gulf Cooperation Council considering listing on its new parallel
market, Nomu, a senior executive said on Tuesday.
The companies were in the process of appointing advisers to
support their potential listings, said Yarub Awadh Albadi, head
of CMA's initial public offering unit.
The Nomu market, which launched on Feb. 26, is designed for
small and medium sized businesses, requiring a market value of
at least 10 million riyals ($2.67 million), minimum shareholder
size of 35-50 shareholders, and an offering of at least 20
percent of its shares.
($1 = 3.7490 riyals)
(Reporting by Hadeel Al Sayegh; Writing by Tom Arnold; Editing
by Louise Heavens)