Tadawul wrapped up its quarterly rebalancing for 2Q, adding two firms to its benchmark index TASI and 10 to the parallel market capped index NomuC, effective Sunday, 29 June, it said in a statement. Meanwhile, one company will be removed from NomuC.

UCIC + Flynas: Tadawul’s benchmark index will add two new names, carton-maker United Carton Industries Company (UCIC) and Budget air carrier Flynas, following their muted trading debuts.

ICYMI- Tadawul has just closed one of its weakest quarters on record, with 2Q seeing two major IPOs slumping on their debut as the Saudi market turned into one of the worst performers globally in May. Flynas did not deliver on its stellar USD 4.1 bn IPO, with its shares dipping 3.4% on debut this month, while UCIC fell 1.5% below its IPO price the previous month, marking a stark contrast to when newly-listed stocks routinely posted double-digit gains.

ALSO- Ten newly listed stocks will hit the NomuC, namely Future Vision, ServiceEquipment, DkhounNational, Adeer Real Estate, AxeleratedSolutions, Al Kuzama Trading, Anmat Technology, Asas Makeen, Time Entertainment, and Hawyia Auctions.

Not all small-cap IPOs are struggling: Nomu’s latest three IPOs — Hawyia Auctions, Asas Makeen, and Anmat Technology — closed in the green, bucking a wider trend of weak debuts on the parallel market that was likely caused by a mismatch between valuations and actual secondary liquidity.

One company will be scrapped from the parallel market index: Keir International will be removed from the NomuC, after it made the leap to Tadawul’s big league.

Tadawul is sitting on a packed IPO pipeline: The main market is set to welcome more IPOs in the near future, including Specialized Medical Company — which starts trading today — Ejada Systems, Marketing Home Group, and Dar Al Majed, among many others. Meanwhile, the CMA has cleared Naf Company for Feed Industry, Qudra for Communications and IT, the National Signage Industrial Company, Wajd, and Hammad Mohammed Bin Saedan Real Estate to list on Nomu.

AND- CMA is approving more listings:

  • Jamjoom Fashion Trading received approval to offer 30% of its capital on Tadawul’s parallel market Nomu, amounting to 2.4 mn shares, the Capital Market Authority (CMA) said in a statement on Monday. Headquartered in Jeddah, the fashion retail store has over 225 branches across the region, offering brands like Nayomi and Mihyar.
  • Online supplement storeAlwazn Almithaly for Trading received CMA approval to offer 15% of its capital — 451.5k shares — on Nomu, the authority said in a separate statement. The brand operates over 150 branches nationwide, distributing more than 100 international brands, including diet plans, natural products, and sports nutrition supplements.
  • Two equity funds approved: Quencia Capital received the green light from the CMA for the public offering of its Saudi Equity Fund, while Alinma Capital will go ahead with its public offering of Alinma Nomu Market Equity Fund.
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