Saudi CMA approves 29 out of 70 offering, listing requests in 2021: official

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The Capital Market Authority (CMA) received more than 70 requests from companies to offer and list their shares on the main and parallel markets since the beginning of 2021, Al Eqtisadiah newspaper reported, citing Abdullah Binghannam, CMA Deputy for Listed Companies and Investment Products.

He added that the authority approved 29 requests and declined the remaining for failing to fulfill the regulatory requirements.

The Financial Sector Development Program aims to develop the performance of the capital market, as it set a goal of listing 20 companies in 2021, Binghannam added.

He indicated that the authority is currently working through its strategic plan, in line with the initiatives of the Financial Sector Development Program, to increase the number of listings in the capital market over the coming years.