Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
Saudi Arabia beat out regional rival Qatar's first bond issuance since the Gulf crisis began with its own "surprise" $11 billion raise, which drew $52 billion of orders this week, according to reports.
Following years of effort by Saudi officials to increase transparency in its stock market, the Kingdom won inclusion into MSCI, Inc.'s highly sought-after emerging market index, expanding the asset class by as much as $600 billion for the Kingdom.
According to the Saudi Gazette, the CMA has laid out the specific time-frame and requirements for all companies listed on the Tadawul to disclose their adoption of International Financial Reporting Standards. The deadline is January 1, 2017.
Sharif Atta of SQM Investment Management speaks with SUSTG's Richard Wilson on the opening of the Tadawul, or Saudi Stock Market, to wider foreign investment this Spring. The conversation is part of SUSTG and SUSRIS' ongoing #FocusKSA discussions on Saudi Arabia.
According to a report from the Okaz/Saudi Gazette, the ownership of foreign investors in the Saudi stock market jumped to SR404.26 billion ($107.8 billion), or 3.36 percent of the total market value of the listed companies.
A recently released report from Jadwa Investment shines light on the Saudi Arabia's Financial Sector Development Program (FSDP), which was announced in April of this year.
Saudi Arabia’s Capital Markets Authority (CMA) has significantly lowered the barriers to entering the Saudi stock market as a foreign investor and increased the amount which a foreigner may own of a Saudi company, the bourse announced in a release today.
The kingdom’s Tadawul All Share Index has retreated 4.2 percent since the end of June as value of shares traded for July decreased 25 percent over the previous month, according to reports.
