The Saudi Tadawul Group Holding Company’s CEO Mr. Khalid Al Hussan has stated that 20 firms would be listed on the Saudi Stock Exchange main market and Parallel Market Nomu by the end of the year 2021.
“The Saudi Tadawul Group Holding Company and the Saudi Capital Market Authority (CMA) have received more than 50 applications for listing on the Saudi bourse. The CMA has approved some of these applications while some others are under various phases of the study,” Mr. Al Hussan said in a press conference.
He further noted that 2022 is expected to witness a number of listings, which he termed as “very good.” Mr. Al Hussan pointed out that not just the stock market, but also the debt and mutual fund markets are seeing increased demand for listings.
He revealed the launch of the second financial derivatives product, which has set the next developmental stage for the derivatives market. Mr. Al Hussan said in a statement that the group’s revenues from subscriptions represent five to six percent of the total revenues.
“Saudi Tadawul Group is working on a bundle of initiatives to expand the capital market’s base, including dual listing, linking with international depository centers, maximizing investor base, especially in the debt market. In addition to this, the group focuses on activating the role of securities clearing and settlement, which represents an attractive turning point for investors,” Saudi Tadawul Group CEO added.
Last month, the Saudi Tadawul Group, which operates the kingdom’s stock exchange, set the price range for its initial public offering (IPO), with an intention to raise up to $1 billion (3.78 billion riyals) in the deal.
