Saudi stock market larger than country’s economy, says CMA chief
- Date: 14-Nov-2021
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi stock market larger than country’s economy, says CMA chief
RIYADH: The Saudi stock market is now larger than the Kingdom's entire economy — even without taking Aramco into consideration, the Capital Market Authority (CMA) chairman has said.
Speaking during a session organized by the Saudi Economic Association (SEA), Mohammed El-Kuwaiz revealed there are a further 54 listing applications pending — 31 of which are direct listings — as he highlighted the strength of the Tadawul.
With Aramco added, Tadawul's size is four times that of the economy, El-Kuwaiz said.
He argued the great momentum of a large number of companies for direct listing is because the Kingdom was the first to apply the direct listing mechanism in the GCC region.
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