The Clap
Tam is planning to offer its shares on the “Nomu” parallel market during H1 2023.
What
Abdullah Yousef, co-founder and CEO of Tam, stated that the company is planning to be listed on Nomu and then upgrade to Saudi Tadawul within two years.
So What
Yousef explained that most of Tam’s revenues come from advising the Saudi government and government agencies linked to the Public Investment Fund.
He added that the company is growing rapidly and already has contracts booked for this year that will increase revenues by 20%.
Now What
KSA has seen a boom in IPOs over the past year thanks to an expanding economy and strong demand from investors.
Listed companies in the Middle East accounted for about half of the revenue in EMEA combined.
However, the general “Tadawul” index witnessed a decline of more than 20%, since last May, which may slow down the pace of new listings.
