The Saudi Stock Exchange (Tadawul) is to launch on Sunday the ‘Nomu-Parallel Market,’ an alternative equity market with lighter listing requirements compared to the main market.
Below are the six major differences between the main exchange and the parallel market:
Listing
Parallel Market: Must be public offering
Main Market: Must be initial public offering
Market Capitalization
Parallel Market: 10 million riyals
Main Market: 100 million riyals
Listing percentage
Parallel Market: Not less than 20 percent
Main Market: Not less than 30 percent
Number of shareholders
Parallel Market: Only 50 shareholders and can be as low as 35
Main Market: Starts with 200 shareholders in each company
Disclosure
Parallel Market: Quarterly data must be released within 45 days and yearly within 90 days
Main Market: Quarterly data must be released within 30 days and yearly within 90 days
Fluctuation ratios
Parallel Market: Fluctuation limit up to 20 percent
Main Market: Fluctuation limit up to 10 percent
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