Monday, 06 December 2021 10:05 GMT

Saudi’s Capital Market Authority to speed up stock market listings

(MENAFN) Saudi’s Capital Market Authority (CMA) is aiming to accelerate stock market listings as it announced around 45 companies are waiting for approval.

The authority is planning to speed up applications as part of efforts to hold up the economy and develop new sectors, according to Abdullah Bin Ghannam, CMA deputy for listed companies & investment products.

Bin Ghannam further declared that the number of new listings in the Saudi market since the start of the year, including traded investment funds, amounted at 11, bringing the number listed to 217.

An improvement in investors' demand for investment funds was underlined by CMA deputy, with the number of subscribers increasing 12 percent at the end of the January-June period of 2021, amounting at a record 408,000 investors in comparison to 364,000 at the end of 2020.

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