By: Mohamed Idris

Riyadh - Mubasher: The CEO of the Saudi Stock Exchange (Tadawul) said that a number of companies from the Gulf region have requested to be listed on the Nomu-Parallel Market.

Khalid Al-Hassan also told Mubasher, during a press conference on Saturday, that the Saudi market has high levels of governance compared to other regional markets.

The Saudi Capital Market Authority (CMA) will launch Nomu-Parallel Market on Sunday 26 February, after it issued the listing rules in December. Trade will begin on the stocks of seven companies.

We are working with our partners to attract more companies to the parallel market, Al-Hassan indicated.

And when asked about the target for the parallel market, the CEO of the Saudi bourse said the average in around 10 similar markets is 38 companies for the second year, noting that this is not necessarily the target for Nomu.

Translated by: Moslem Ali