Nomu growth this year driven by high-growth listed firms: SNB Capital exec

Iyad Ghulam, Head of Equity Research at SNB Capital

The Nomu-Parallel Market rose by more than 15% year-to-date, driven by high-growth listed companies, said Iyad Ghulam, Head of Equity Research at SNB Capital.

In an interview with Argaam, on the sidelines of SNB Capital’s Investors Day, he added that Nomu includes small and medium-sized companies operating in various economic sectors, indicating that this has positively impacted its performance, compared to the Main Market, which is still below its previous levels.

He said that the new and qualitative listings on Nomu have drawn increasing interest from investors, thus boosting the market liquidity to nearly SAR 60 million, compared to lower levels in previous years.

Ghulam also highlighted the diversity of economic opportunities offered by Nomu-listed companies, which are not available to the same extent in TASI, which increases investors’ presence in the market.

Furthermore, Nomu includes companies from various sectors, including technology, real estate and industry, which provides multiple investment opportunities and distinctive success stories, he said, stressing that investors should be more careful in studying the performance of small-cap companies due to their high risks.

Ghulam pointed out that accurate disclosures and information is key to help investors make informed decisions, which encourages their presence in the market, drives trading and facilitates transition to the Main Market.

Better disclosure is beneficial to all parties, whether companies or investors, he stated.