Executive Summary
Saudi Arabia’s NOMU Parallel Market has emerged as a key driver of SME growth under Vision 2030, offering simplified listing requirements, lower entry barriers, and strong government support through programs like Kafalah and Tamweel. In 9M 2025, NOMU recorded 21 IPOs and 1 direct listing, far outpacing SME activity in other GCC markets. Hosting 126 companies and contributing significantly to market liquidity, NOMU provides a strategic pathway for businesses to transition to Tadawul’s main market. With 50–60 IPOs projected by 2027 across sectors such as technology, healthcare, and retail, NOMU is positioned as a cornerstone for Saudi Arabia’s capital market development and SME-driven economic diversification.
