Saudi market attracted over $26.66bln liquidity: Tadawul chief

Companies in general seek to develop their commercial businesses in a way showcasing their strength, and the financial market is one of the channels that enhances the commercial identity and credibility: Tadawul CEO

  
A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

A man walks at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019. Image used for illustrative purpose.

REUTERS/Ahmed Yosri
 

RIYADH — Saudi stock market’s exposure to global indices has provided liquidity to the market over SR100 billion during the last period, with the number of foreign investors registered with the Securities Depository Center (Edaa) crossing 2,100, said Khaled Al-Hussan, CEO of the Saudi Stock Exchange (Tadawul).

Al-Hussan made the remarks while addressing a virtual session, titled “The Importance of offering and listing for the agricultural sector,” organized by Tadawul in cooperation with the Qassim Chamber of Commerce and Industry. He stressed the importance of offering for companies in general and for the agricultural sector in particular.

He said that companies in general seek to develop their commercial businesses in a way showcasing their strength, and the financial market is one of the channels that enhances the commercial identity and credibility of companies through disclosures. He indicated that dealing with companies listed in the market is much easier than traditional unlisted companies, Al-Eqtisadiah newspaper quoted him as saying.

Al-Hussan said that Tadawul has worked in cooperation with the Capital Market Authority to find additional channels for medium and small companies, as well as to find an effective and less expensive way to reach out to investors through the Saudi parallel equity market (Nomou). We are working on monitoring these channels and will add more improvements in the future, he added.

Tadawul chief that there is an intensive work underway led by the CMA, in which Tadawul, the Ministry of Commerce, the Small and Medium Enterprises General Authority, and the Local Content and the Government Procurement Authority are participating, with the aim of coordinating efforts to find appropriate incentives for various sectors to be listed in the market.

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