Saudi Capital Market Authority Offerings Reach $8.2 Bn

Saudi Capital Market Authority Offerings Reach $8.2 Bn

The Saudi Capital Market Authority (CMA) revealed that the volume of initial offerings requests in the main and parallel financial market tripled last year to reach $8.2 billion.

The Authority issued its annual report for the fiscal year 2021, which includes the most critical developments and procedures in the financial market.

Last year witnessed a significant jump of 385.8 percent in the number of requests for public offering and registration of shares in the main and parallel markets approved by the Authority to reach 34 bids.

The report pointed out that the shares of nine companies were offered an initial public offering (IPO) in the main market Tadawul, and three companies were offered an IPO in the parallel market Nomu.

The shares of eight companies were registered for a direct listing in Nomu, and one company was promoted to the Tadawul market.

According to the report, the volumes of securities offerings in Tadawul and Nomu reach about $8.2 billion, while assets under management increased 24 percent to reach $202 billion.

The Authority attempts to develop and grow the Sukuk and Debt Instruments market.

The market witnessed several positive developments, such as the Saudi Stock Exchange joining the FTSE Emerging Markets of Government Bond Index- EMGB, and the