Morgan Stanley Saudi Arabia will market-make for Hamad Mohammed Bin Saedan Real Estate on Nomu starting June 17, with a 5% spread cap and 50% session presence requirement.
Alpha Score of 64 reflects moderate overall profile with strong momentum, weak value, moderate quality, moderate sentiment.
Morgan Stanley Saudi Arabia won approval from the Saudi Exchange to start market-making for Hamad Mohammed Bin Saedan Real Estate Company on the Parallel Market (Nomu), effective June 17.
The mandate tasks the bank with keeping the real estate firm's shares liquid on the kingdom's secondary equity tier. Nomu is the exchange's alternative platform for small and medium-sized enterprises, restricted to qualified investors.
Morgan Stanley must maintain buy and sell orders for at least 50% of each trading session. That requirement is meant to prevent wide price gaps when organic trading is thin – a common risk on Nomu, where daily turnover often runs below the Main Market's levels.
The market maker also has to post a minimum order size of 50,000 shares and keep the bid-ask spread at 5% or less. Tadawul said there is no minimum value traded requirement for this mandate.
Hamad Mohammed Bin Saedan Real Estate trades under ticker 9648. In March, the Capital Market Authority approved the company's request to list 4.23 million shares, equal to 15% of its total shares.
Morgan Stanley's entry as a designated market maker on Nomu follows a broader push by Saudi regulators to deepen liquidity in the parallel market. The bank's presence gives the real estate stock a named liquidity provider with the balance sheet to absorb order imbalances, which should reduce the execution risk that keeps some qualified investors on the sidelines.
For a stock that trades in a market segment where a single large order can move the price by several percent, the 5% spread cap and the 50,000-share minimum order size create a tighter trading band than what typically exists without a designated market maker. The 50% session-presence rule also means quotes should be visible through most of the day, not just when the stock happens to attract organic flow.
The real test will come during the first few weeks of the mandate, when the market sees whether Morgan Stanley's quoting behavior actually narrows spreads and absorbs sell orders without widening the bid-ask beyond the cap. If it works, other Nomu-listed companies may push for similar arrangements.
Morgan Stanley's Alpha Score sits at 64 out of 100, a Moderate label, in the Financials sector. The stock page is at /stocks/ms.
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