(MENAFN) In light of his expectation that NEOM would issue shares to the public in 2024, adding almost SR1 trillion (USD266 billion) to the market, Saudi Crown Prince Mohammed bin Salman claimed that the Kingdom intends for the Saudi stock exchange to be larger than its worldwide rivals.

Speaking to reporters after revealing the plans for The Line, the NEOM city, the Crown Prince added that when more project components are finished, the NEOM would eventually bring more than SR5 trillion to the stock exchange.

The Crown Prince also declared that all corporations controlled by the Public Investment Fund would eventually be listed on the stock exchange, helping it grow to become one of the three biggest stock exchanges on the globe.

The Crown Prince discussed the NEOM finance plans, stating that the project is going to get SR500 billion in capital in 2027, with SR200–300 billion coming from the services that is going to be developed in the first phase. The market would provide another SR200–300 billion.

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