Saudi capital market: top 10 globally in terms of IPO proceeds

Saudi capital market: top 10 globally in terms of IPO proceeds

Riyadh: Today at the second Saudi Capital Market Forum in Riyadh, Mohammed Al Rumaih, CEO, Saudi Exchange, outlined ambitions for Saudi Arabia’s capital market: “We aim to become the third largest market globally, and first in the MENA region. Today, we are one of the top 10 globally, based on IPO proceeds for the last two years.”

He added that the market is expected to add several new features this year, including inbound depositary receipts, designed to attract more foreign companies, as well as Single Stock Options contracts, expected to launch in the second quarter, subject to regulatory approvals.

He delivered the remarks during a presentation titled ‘The Capital of Ambitions: Financing Tomorrow’s Opportunities’ at the Saudi Capital Market Forum 2023.

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About Saudi Tadawul Group

The Saudi Tadawul Group, established in March 2021, is the parent company of Saudi Exchange, a dedicated stock exchange business, the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa) and Wamid – the innovation arm of the Group.

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