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23 May 2016
JEDDAH: Saudi Arabia's National Transformation Plan may pave the way for 70 IPOs including the sale of Saudi Aramco's shares, a top economist indicated Sunday.
"If Aramco is listed in Saudi stock market, it will attract liquidity not only from within Saudi Arabia but also from high net worth individuals who have wealth abroad," Said Al-Shaikh, chief economist at National Commercial Bank (NCB), said. "It will create a new momentum in the Saudi share market and create more appetite for Saudi stocks," he said.
He was speaking to Arab News at the launch of business optimism survey results at the NCB headquarters in Jeddah.
Dun & Bradstreet South Asia Middle East Ltd. (D&B), in association with the NCB, released the D&B Business Optimism Index (BOI) survey for Saudi Arabia for Q2, 2016 which revealed cautious optimism levels for firms in Saudi Arabia.
The composite BOI for Saudi Arabia's hydrocarbon sector has edged back into the positive territory, with a reading of 3 in Q2, 2016 against -12 in Q1, 2016.
Adverse impact of low oil prices and competition are the chief concerns for non-hydrocarbon sector firms, according to the survey.
JEDDAH: Saudi Arabia's National Transformation Plan may pave the way for 70 IPOs including the sale of Saudi Aramco's shares, a top economist indicated Sunday.
"If Aramco is listed in Saudi stock market, it will attract liquidity not only from within Saudi Arabia but also from high net worth individuals who have wealth abroad," Said Al-Shaikh, chief economist at National Commercial Bank (NCB), said. "It will create a new momentum in the Saudi share market and create more appetite for Saudi stocks," he said.
He was speaking to Arab News at the launch of business optimism survey results at the NCB headquarters in Jeddah.
Dun & Bradstreet South Asia Middle East Ltd. (D&B), in association with the NCB, released the D&B Business Optimism Index (BOI) survey for Saudi Arabia for Q2, 2016 which revealed cautious optimism levels for firms in Saudi Arabia.
The composite BOI for Saudi Arabia's hydrocarbon sector has edged back into the positive territory, with a reading of 3 in Q2, 2016 against -12 in Q1, 2016.
Adverse impact of low oil prices and competition are the chief concerns for non-hydrocarbon sector firms, according to the survey.
© Arab News 2016
