Saudi Stock Exchange to offer incentives for tech startup listing
Published 20 Oct,2021 via Bloomberg Technology & Innovation–Saudi Arabia’s stock exchange is in talks with venture capital investors and technology firms in order to recast its small-cap market as a hub for the Middle East’s burgeoning startup industry, according to people familiar with the matter.
The kingdom seeks to encourage tech companies to raise money on the exchange’s smaller Nomu market instead of doing private funding rounds, the people said asking not to be identified as the information is private.
The Riyadh bourse, also known as Tadawul, doesn’t currently offer incentives to list on Nomu, but is telling some startups it can help with regulatory waivers or easing the listing process, the people said. Tadawul did not immediately respond to requests for comments.
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