Mayar Holding Company announced, in a strategic move aimed at strengthening its investment portfolio and expanding the scope of its subsidiaries’ business, that “Ziorak” (one of its subsidiaries) signed a formal agreement with Middle East Financial Investment Company (MEFIC Capital) to appoint it as a financial advisor, on 03/12/2025 AD.
In an official statement published on the Saudi Stock Exchange (Tadawul) website, the company explained that this agreement aims to arrange and prepare for the initial public offering (IPO) and listing of Ziorak shares on the parallel market (Nomu). It noted that the IPO and listing process will involve several meticulous regulatory stages, beginning with the appointment of the financial advisor and extending to include due diligence, financial valuation, and obtaining the necessary approvals from the Saudi Capital Market Authority, culminating in the actual listing and commencement of trading on the parallel market.
The importance of the parallel market (growth) in the Saudi economy
This announcement comes at a time of significant activity in the Saudi financial market, with the parallel market (Nomu) serving as a vital platform specifically designed to enable small and medium-sized enterprises (SMEs) and high-growth companies to list with more flexible requirements compared to the main market (TASI). Listing on Nomu provides companies with access to the capital needed for expansion, enhanced governance and transparency, and ultimately, greater sustainability and competitiveness.
The role of the financial advisor and the stages of the offering
Appointing a financial advisor is a pivotal step in any initial public offering (IPO). Under this agreement, MEFIC Capital will lead the regulatory process, coordinate with regulatory authorities, and prepare the prospectus, which will include all the company's financial and legal details. The role also includes determining the offering's price range based on market data and the company's financial performance to ensure the offering's attractiveness to qualified investors.
The context of the Kingdom's Vision 2030 and the development of the financial sector
Mayar Holding's move to list its subsidiary aligns with the objectives of the Financial Sector Development Program, one of the programs under Saudi Vision 2030, which aims to develop the Saudi financial market, enhance its attractiveness, and increase the number of listed companies. Listing subsidiaries contributes to boosting market liquidity and separating assets to maximize their value, benefiting shareholders of the parent company and providing diverse investment opportunities in new sectors for investors in the Saudi market.
