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Service Track

IPO & Market Listing Readiness

Comprehensive preparation for listing on Tadawul main market or Nomu Parallel Market — from institutional readiness assessment through investor roadshow and official listing.

Markets We Work With
Tadawul Main Market
Nomu Parallel Market
Capital Market Authority (CMA)
Saudi Central Bank (SAMA)
Tadawul Main Market
Nomu Parallel Market
Capital Market Authority (CMA)
Saudi Central Bank (SAMA)
18–36
Months typical preparation window
4
Core readiness pillars
12+
Years capital markets experience
2
Saudi markets supported

Does your organization face these challenges?

Common IPO Challenges

  • Unclear picture of listing requirements and timeline
  • Financial statements not audit-ready or investor-grade
  • Weak governance that fails CMA scrutiny
  • No compelling investor story or growth narrative
  • Regulatory gaps that delay or block the IPO

When Do You Need This?

  • Targeting a Tadawul or Nomu listing within 2–3 years
  • Preparing for a pre-IPO capital raise
  • Board has decided to list — now needs a roadmap
  • Financial and governance infrastructure needs upgrading
  • Strategic advisors recommending IPO readiness work

Four Pillars of IPO Readiness

Pillar 1
Financial Readiness

Audited financial statements, financial modeling, valuation, and clean accounting practices that meet listing requirements.

Pillar 2
Legal & Regulatory

Legal entity structure, CMA compliance, regulatory filings, and all documentation required for the listing process.

Pillar 3
Governance Readiness

Board structure, committee charters, authority matrix and policies that satisfy CMA governance requirements.

Pillar 4
Investor Relations

Investment thesis, growth story, investor presentation and IR strategy that positions the company for a strong valuation.

Our IPO Preparation Methodology

1

IPO Readiness Assessment

Comprehensive diagnostic across all four pillars — identifying gaps, priorities and realistic timeline to listing.

2

Financial Infrastructure

Strengthen financial reporting, commission 3-year audits, build financial models and valuation scenarios.

3

Governance & Legal Build

Build the governance structure and legal framework required by CMA listing rules.

4

Investor Story Development

Craft the investment thesis, investor presentation and IR strategy — positioning the company for maximum valuation.

5

Listing Execution Support

Coordinate with advisors, underwriters and CMA through to successful listing.

What the engagement covers

Scope of Work

  • IPO readiness diagnostic across all pillars
  • Financial modeling and company valuation
  • Governance framework for listing compliance
  • Investment thesis and investor deck
  • Due diligence preparation and data room setup
  • CMA filing support and coordination

Expected Deliverables

  • IPO readiness report with gap roadmap
  • Financial model and valuation scenarios
  • Governance and compliance framework
  • Investor presentation deck
  • Data room documentation package
  • IR strategy and communication plan

Case Study: Steel Company — Nomu Parallel Market

Preparing a steel manufacturing company for listing on Nomu Parallel Market

Manufacturing · Saudi Joint Stock Company

The Challenge

A manufacturing company with strong operations but significant gaps in financial documentation, governance structure, and no investor-facing narrative — targeting a Nomu listing within 24 months.

What We Delivered

  • Full IPO readiness assessment
  • 3-year financial model with scenarios
  • Board and committee governance build
  • Investor presentation and growth story
  • CMA listing application support
Result: Company successfully listed on Nomu within the target window. Financial and governance gaps resolved 8 months ahead of the filing deadline, allowing additional time for investor relations preparation.

Common Questions

Tadawul is the main capital market with higher listing requirements (minimum capital, audited history, governance). Nomu is the parallel market designed for growth companies with lighter requirements, making it accessible to SMEs and family businesses with revenues typically above SAR 10M.
Ideally 2–3 years before the target listing date. Earlier preparation gives more time to strengthen financials, build governance, and tell a compelling growth story. Starting too late — under 12 months — creates significant pressure and risk of delay.
Yes. Our role is complementary to financial advisors and underwriters — we build the strategic, governance and investor relations dimensions while coordinating closely with the financial and legal teams.
Rarely. CMA requires specific governance structures, independent board members, and clear separation between family and business roles. We build this foundation as part of the IPO preparation process — which also strengthens the business regardless of listing outcome.

Services that support your listing journey

Is your company ready to list?

Start with a readiness assessment — we will map your current position and the path to a successful listing.