Saudi Tadawul Group CEO Khalid Al-Hussan
Saudi Tadawul Group Holding Co. and the Capital Market Authority (CMA) have received more than 50 applications for listing, with some approved or understudy, said Saudi Tadawul Group CEO Khalid Al-Hussan.
Speaking at the press conference to list the Saudi Tadawul Group today, Dec. 8, Al-Hussan said that 20 companies will be listed on the main market and Nomu - Parallel Market by 2021-end.
Similarly, 2022 is projected to witness “a good number of listings”, as the demand for initial public offerings (IPOs) will include debt and fund markets, in addition to the stock market.
He revealed the launch of the second financial derivatives product, which is set the next developmental stage for the derivatives market.
In an interview with Al Arabiya, Al-Hussan indicated that the group’s revenues from subscriptions represent 5% to 6% of the total revenues.
Saudi Tadawul Group is working on a bundle of initiatives to expand the capital market’s base, including dual listing, linking with international depository centers, maximizing investor base, especially in the debt market.
In addition, the group focuses on activating the role of securities clearing and settlement, which represents an attractive turning point for investors.
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