IPO proceeds should be reinvested to fuel growth opportunities, says top banker
- Date: 19-Feb-2024
- Source: Arab News
- Sector:Financial Markets
- Country:Saudi Arabia
IPO proceeds should be reinvested to fuel growth opportunities, says top banker
RIYADH: Proceeds from initial public offerings in Saudi Arabia should be reinvested in growth opportunities, according to the CEO of ANB Capital.
Speaking during a panel discussion on the first day of the Saudi Capital Market Forum, Khalid Al-Ghamdi explained how this would help propel the national economy and aid the Kingdom in achieving its aspirations.
Al-Ghamdi said: “Ideally, proceeds should be used for expanding business lines, creating jobs, and developing infrastructure.” IPO proceeds should be reinvested to fuel growth opportunities, says top banker