CMA Chairman: 56 companies to be listed on financial market

Muhammad Al-Quwaiz, Chairman of the Capital Market Authority, said that there are 56 companies preparing to be listed on the main market and Nomu – the parallel market, which represents an increase of 30% compared to the same period last year.

During his participation in the Saudi Financial Market Forum in Riyadh, Al-Quwaiz stressed that the Kingdom of Saudi Arabia is on the cusp of a historic transformation from a capital-exporting country to an attractive destination, pointing out that this matter requires a completely different infrastructure than what is currently available.

Al-Quwaiz pointed out the need to raise the total domestic debt issuances owed to the private sector from approximately 4% of GDP today to 18% by 2030.

Al-Quwaiz stated that the information and communications technology sector is considered one of the largest sectors in terms of the number of listings and the value of the capital raised, in addition to being the best performing sector in the Saudi financial market during the year 2023.