The Saudi Capital Market Authority has approved the request of “Al Qimam Technologies for Computers and Trading Systems” company to register its shares for the purpose of direct listing in the parallel market “Nomu”.
The authority added, in a statement today, Wednesday, that the trading of these shares will be limited to the categories of qualified investors stipulated in the list of terms used in the regulations and rules of the Capital Market Authority, and the registration document will be published well in advance of the listing date.
It clarified that qualified investors wishing to purchase the listed shares must investigate and study the information disclosed in the registration document. In the event that it is not possible to understand the contents of the registration document, it is preferable to consult an authorized financial advisor before making any investment decision.
She indicated that the Authority’s approval of the application should not be seen as an endorsement of the feasibility of investing in the shares of the concerned company, as the Authority’s decision to approve the application means that the statutory requirements have been complied with according to the Capital Market Law and its implementing regulations.
It revealed that the Authority’s approval of the application is considered valid for a period of 6 months from the date of the Authority’s Board decision, and the approval is considered canceled if the company’s shares are not completed during this period.