Saudi's CMA reviews 45 companies awaiting stock market listing

PHOTO

RIYADH: Saudi’s Capital Market Authority (CMA) plans to speed up stock market listings as it revealed around 45 companies are waiting for approval.

In a statement on Tuesday, Abdullah Bin Ghannam, CMA deputy for listed companies & investment products, said the authority wants to expedite applications as part of efforts to support the economy and develop new sectors.

The number of new listings in the Saudi market since the beginning of the year, including traded investment funds, has reached 11, bringing the total number listed to 217, Bin Ghannam said.

The CMA deputy highlighted an increase in investors' demand for investment funds, with the number of subscribers rising 12 percent at the end of the first half of 2021, reaching a record 408,000 investors compared to 364,000 at the end of 2020.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.