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CMA nods to TAM’s IPO for Nomu listing

CMA nods to TAM’s IPO for Nomu listing
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Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the request of management and digital solutions consultancy firm TAM to list 585,600 shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).  

TAM plans to float 16% of its share capital in line with its objectives to expand its footprint in the Arab world’s biggest economy, according to a press release.

Meanwhile, a prospectus for the initial public offering (IPO) will be unveiled prior to the start of the share sale.

The consultancy firm recently marked its 10th year of operations in the Kingdom, registering significant growth after enlarging its annual revenues by more than twofold over the past three years.

In line with the Vision 2030 reforms, the Riyadh-based company contributed to the Saudi government entities in wider strategic development, policy innovation, public engagement, and digital solutions. 

Furthermore, TAM participated in more than 100 Saudi government policies and initiatives. It also trained a total of 10,000 Saudi nationals and managed SAR 100 million in government grants. 

Abdullah Youssef, Founder and CEO of TAM, said: “We are seeing growth double annually as the Vision 2030 reforms expand, and partnerships with government entities increase.”