Saudi Tadawul Group’s CEO says raising retail subscriber percentage to 30% taken into account

Khalid Alhussan, CEO of Saudi Tadawul Group

Khalid Alhussan, Chief Executive Officer (CEO) of Saudi Tadawul Group Holding, said that raising the percentage of retail subscribers to 30% was taken into account Al-Eqtisadiah newspaper reported.

Retail subscribers in the Saudi market represent a very important tranche in the size or the market attractiveness in terms of daily and monthly turnover.

Saudi Tadawul will launch a new product in the derivatives market, Alhussan said, adding that the existing services and products will see further modifications.

Elsewhere, Alhussan noted that Muqassa’s activation could be amended next year, to become responsible for the settlement of all securities traded in the market, in addition to derivatives.

Commenting on Saudi Tadawul Group’s offering, Alhussan said the IPO is part of the company’s strategy to apply the best practices of capital markets worldwide, which is the main goal since announcing offering plans.

Alhussan added that the declared dividend policy stands at 70%, unless there are exceptional investments for the group’s business growth, as was the case in the IPOs of many major players.

For More IPOs