Nomu Market

Saudi Arabia's parallel market

What Nomu is, how it works, and why we track it for US investors.

What Is Nomu?

Nomu is the Saudi Exchange's parallel market, a separate listing venue for smaller and earlier-stage companies. Listing requirements are lighter than the main market: lower minimum market value, fewer years of required history, and more flexibility on how shares are offered. That trade-off cuts both ways. Companies reach public capital sooner, and investors take on more risk in exchange.

Who Can Trade It?

Not most people reading this. Nomu is restricted to qualified investors as defined by the Capital Market Authority: financial institutions, and individual investors meeting high asset and experience thresholds. Retail investors from the US and elsewhere cannot realistically buy Nomu stocks directly, and daily liquidity is thin, with small trades able to move prices sharply.

Why We Track It

Nomu works as a farm system for the main market. Companies list on Nomu first, operate under public reporting, then many graduate to the TASI main market once they meet its higher standards. Graduation is the moment a company becomes realistically investable for foreign institutional money. Watching Nomu today is one way to see which companies may reach TASI next, which is why the graduation list below matters more than the daily index moves.

How To Use This Page

The graduation table lists every company that has moved from Nomu to the main market since January 2025, with sources.

Nomu To TASI Graduations (January 2025 To Present)

Graduation means the company met main-market listing standards and its shares trade on TASI. Sources: Saudi Exchange public announcements.