How to apply for an IPO in Saudi Arabia
CMA-licensed brokers and receiving banks. The Main Market and the Nomu Parallel Market follow different investor rules.
Where can you apply for IPOs?
Tell us your residence, nationality and existing accounts; we match them against documented routes. No registration before your first result.
Who can apply
- Main Market individual tranche: Saudi natural persons, non-Saudi residents of the Kingdom holding a valid iqama, and GCC nationals.
- Non-resident foreign individuals: since 1 February 2026 the qualified foreign investor (QFI) requirement no longer applies to Main Market listed shares. Whether a given IPO's individual tranche admits them is set by that prospectus, so we check per offering.
- Nomu Parallel Market: qualified investors only. An individual qualifies by meeting one of the CMA tests (for example transaction volume, net assets, professional certification or experience).
Accounts you need
- An investment account with a CMA-licensed capital market institution (broker), which also opens your Depository Center portfolio.
- Or a bank account with a receiving bank named in the prospectus, for Main Market subscriptions.
- For Nomu: your broker must verify and record your qualified-investor status before you can subscribe.
Where to apply
- CMA-licensed brokers (capital market institutions) through their apps and portals.
- Receiving banks named in the prospectus, through branches, apps and ATMs for individual tranches.
Each IPO page lists the channels confirmed for that specific issue, with their own deadlines, minimums and evidence dates. Paid placements never affect what appears there.
Step by step
- 1
Check which board the offer is on
Main Market and Nomu are different markets with different investor rules. The prospectus cover page says which.
- 2
Read the individual-tranche terms
Eligible subscribers, minimum and maximum subscription, the offer price (Saudi retail offers are usually at a fixed price set after institutional book-building) and the receiving agents.
- 3
Subscribe through your broker or receiving bank
Enter the number of shares and pay. Receiving agents may close earlier than the issuer's final day.
- 4
Allocation and refund
A minimum allocation per subscriber is common in Main Market offers, with the remainder pro rata. Excess money is refunded within the period stated in the prospectus.
- 5
Listing
Shares are credited to your portfolio before trading starts on the Saudi Exchange.
Timeline
Institutional book-building
Sets the final offer price before the individual tranche opens.
Individual subscription period
Usually a few days, shorter than the institutional window.
Allocation and refunds
Within the dates stated in the prospectus.
Listing
Announced by the Saudi Exchange after allocation.
Provider deadlines (a bank's or broker's cut-off) are often earlier than the issuer close. Each IPO page shows both separately.
Watch-outs
- Nomu eligibility is assessed separately; being eligible for the Main Market does not qualify you for Nomu.
- The February 2026 QFI change concerns listed shares; retail IPO tranches remain prospectus-defined.
- Receiving agent deadlines are often before the issuer close.
- We list CMA-licensed brokers only for Saudi IPO routes.
Frequently asked
Sources and review
Checked by the BrokerBazaar IPO desk on 2026-10-05; next scheduled review 2027-01-05. This guide describes documented procedures and eligibility. It is not investment, legal or tax advice, and BrokerBazaar does not take applications or money.
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