IPO proceeds should be reinvested to fuel growth opportunities, says top banker

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