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Riyadh: The success of latest IPO listings in Saudi Arabia was acknowledged as a robust regional financial catalyst at a convention in London final week hosted by Saudi Change and HSBC.
The exchanges summit featured audio system together with HRH Prince Khaled bin Bandar bin Sultan Al Saud, the Saudi ambassador to the UK, and His Excellency Mr. Mohammed Elkuwaiz, Chairman of the Capital Market Authority together with a lot of officers from Saudi Change and HSBC. The summit was a part of the primary pan-regional inventory change occasion hosted by HSBC Financial institution Center East. The convention linked the change with worldwide buyers and stakeholders from throughout the private and non-private sectors. by 89 group conferences and 96 one-to-one classes. It was attended by greater than 130 people representing a number of the greatest institutional buyers, in addition to greater than 20 listed firms.
“Having world class world banking and markets capabilities within the Center East is how we helped purchasers within the area increase greater than US$19 billion from buyers worldwide in 2021, inserting us on prime of Bloomberg’s fairness and debt rankings in 2021,” mentioned Stephen Moss, HSBC’s Regional Chief Government for the Center East, North Africa and Turkey (MENAT).
“In Saudi Arabia, we’re the main worldwide funding financial institution, in addition to being a 31% shareholder in The Saudi British Financial institution (SABB). New listings are hovering, billions of {dollars} are being raised to drive long run funding, and the already substantial urge for food of worldwide buyers for publicity to the area is growing,” Moss added.
Matters on the agenda embrace ESG, fairness capital markets, world vitality demand and financial diversification throughout the Kingdom.
“Within the midst of a really profitable 12 months for Saudi Change, we’re happy to be right here in London discussing funding alternatives within the Kingdom and the numerous latest and upcoming enhancements to the Saudi capital market. We additionally spoke about our efforts to advertise ESG within the Saudi capital market, notably our ESG disclosure pointers,” mentioned Mohammed Al Rumaih, CEO of Saudi Change.
“The rising variety of IPOs, together with continued curiosity from worldwide buyers, is robust proof of worldwide confidence within the Saudi capital market,” Al Rumaih added.
Media enquiries to:
Will Blair
will.blair@hsbc.com
Katharine Pitt
katharine.pitt@fgh.com
HSBC within the MENAT area
HSBC is the most important and most generally represented worldwide banking group within the Center East, North Africa and Turkey (MENAT), with a presence in 9 international locations throughout the area: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Financial institution (SABB), and a 51% shareholder of HSBC Saudi Arabia for funding banking within the Kingdom. Throughout MENAT, HSBC had belongings of US$71bn as at 31 December 2021.
About Saudi Change
Saudi Change is the licensed entity within the Kingdom of Saudi Arabia to behave because the Kingdom’s securities change (The Change), itemizing and buying and selling in securities. The Saudi inventory market is without doubt one of the largest inventory exchanges among the many 67 members of the World Federation of Exchanges, the dominant market within the Gulf Cooperation Council (GCC) and the third largest inventory market amongst its rising market friends. For extra data see: www.saudiexchange.sa.
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