‎“Tadawul” CEO: Foreign investment value in Saudi market hit ‎SR37 bln

Mohammed Al-Rumaih, CEO of Saudi Tadawul, revealed that foreign investments of companies listed on the Saudi market jumped from 7 billion riyals during 2017 to 370 billion riyals this year, an increase of more than 8% compared to last year.

He explained in an interview with Al Arabiya that the high growth came as a result of reforms and improvements in the financial market in terms of legislation and regulations from the Authority, and technical developments by Tadawul and sister companies such as Edaa and Clearing, in addition to the encouraging economic climate.

Al-Rumaih confirmed that there are more than 50 applications in the Tadawul and the Market Authority, under study to list new companies, amid high momentum that has reached 26 listings to date, with the successful closing of institutional subscription for two companies recently.

He pointed out that “Saudi Tadawul” has 12 approvals from the Capital Market Authority for companies that will be listed during the coming period.