Riyadh: The success of recent IPO listings in Saudi Arabia was recognized as a strong regional economic catalyst at a conference in London last week hosted by Saudi Exchange and HSBC.

The exchanges summit featured speakers including HRH Prince Khaled bin Bandar bin Sultan Al Saud, the Saudi ambassador to the UK, and His Excellency Mr. Mohammed Elkuwaiz, Chairman of the Capital Market Authority along with a number of officials from Saudi Exchange and HSBC. The summit was part of the first pan-regional stock exchange event hosted by HSBC Bank Middle East. The conference connected the exchange with international investors and stakeholders from across the public and private sectors. through 89 group meetings and 96 one-to-one sessions. It was attended by more than 130 individuals representing some of the biggest institutional investors, as well as more than 20 listed companies.

“Having world class global banking and markets capabilities in the Middle East is how we helped clients in the region raise more than US$19 billion from investors worldwide in 2021, placing us on top of Bloomberg’s equity and debt rankings in 2021,” said Stephen Moss, HSBC’s Regional Chief Executive for the Middle East, North Africa and Turkey (MENAT).

“In Saudi Arabia, we are the leading international investment bank, as well as being a 31% shareholder in The Saudi British Bank (SABB). New listings are soaring, billions of dollars are being raised to drive long term investment, and the already substantial appetite of global investors for exposure to the region is increasing,” Moss added.

Topics on the agenda include ESG, equity capital markets, global energy demand and economic diversification across the Kingdom.

“In the midst of a very successful year for Saudi Exchange, we’re pleased to be here in London discussing investment opportunities in the Kingdom and the many recent and upcoming enhancements to the Saudi capital market. We also spoke about our efforts to promote ESG in the Saudi capital market, particularly our ESG disclosure guidelines,” said Mohammed Al Rumaih, CEO of Saudi Exchange.  

“The growing number of IPOs, along with continued interest from international investors, is strong evidence of international confidence in the Saudi capital market,” Al Rumaih added.

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HSBC in the MENAT region

HSBC is the largest and most widely represented international banking organization in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$71bn as at 31 December 2021.

About Saudi Exchange

Saudi Exchange is the authorized entity in the Kingdom of Saudi Arabia to act as the Kingdom’s securities exchange (The Exchange), listing and trading in securities. The Saudi stock market is one of the largest stock exchanges among the 67 members of the World Federation of Exchanges, the dominant market in the Gulf Cooperation Council (GCC) and the 3rd largest stock market amongst its emerging market peers. For more information see: www.saudiexchange.sa.