CMA CEO says 56 companies set to list on TASI, Nomu

19/02/2024 Argaam
Mohammed El-Kuwaiz, Chairman of the Capital Market Authority

Mohammed El-Kuwaiz, Chairman of the Capital Market Authority


A total of 56 companies are preparing to be listed on the Tadawul All Share Index (TASI) and the Nomu-Parallel Market, a 30% increase compared to the same period last year, according to the Capital Market Authority’s (CMA) Chairman, Mohammed A. El-Kuwaiz.

 

During his participation in the Saudi Capital Market Forum (SCMF), El-Kuwaiz said that the Kingdom is on the cusp of a historic transformation from a capital-exporting country to an attractive destination, stressing that this requires a completely different infrastructure than what is currently available.

 

El-Kuwaiz also highlighted the Kingdom's need to raise the total domestic private debt outstanding for the private sector from around 4% of gross domestic product (GDP) today to 18% by 2030.

 

The information and communications technology (ICT) sector was the best performing sector in the Saudi capital market in 2023, with the most listings and capital raised, he added.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.