Al-Khudairy: Saudi Initial Offerings are Healthy for Stock Market

Ammar Al-Khudairy, Chairman of the Board of Directors of the Saudi National Bank (Samba), described the process of initial offerings in the Saudi stock market in the recent period as healthy for the stock market and the Saudi economy in general.

During the Financial Stability Forum, Al-Khudairy said “the stock market index before the listing of the Saudi Telecom Company STC in the Saudi stock market was 1,800 points, and it reached fantastic levels after the listing.”

He added that “the financial market was created to offer companies and give an opportunity to obtain new capital and to exit after investing for a long period and requires initial offerings.”

The economic system in general by the state, the government and the banks encourages the initial offerings, and that the bank prefers to lend companies that have governance, which is available in the listed companies.