Riyadh: Today, the Saudi Exchange welcomed SNB Capital, a leading Saudi investment company, as the market maker for Saudi Arabian Oil Company ("Saudi Aramco"), one of the largest energy company in the world, based in Dhahran, Saudi Arabia.The market making ceremony was attended by Mr. Nayef Alathel, Chief of Listing at the Saudi Exchange and Mr. Loai Bafaqeeh, Head of Securities at SNB Capital.
As a market maker, SNB Capital will simultaneously provide bid and ask quotes for Saudi Aramco equities, to ensure the availability of liquidity in line with market maker obligations of the Saudi Exchange.
Speaking on the occasion, Nayef Alathel, Chief of Listing at the Saudi Exchange said, “We welcome SNB Capital as a market maker for Saudi Aramco. SNB Capital appointment underscores their commitment to supporting the growth and development of the Saudi capital market, and it sends a positive signal to both domestic and international investors. By serving as a market maker, SNB Capital will play a key role in facilitating trading activity, generating more investor interest, and supporting our mission to develop a sophisticated capital market that aligns with the goals of Vision 2030".
Loai Bafaqeeh, Head of Securities at SNB Capital said: "We are delighted to be working closely with Saudi Exchange to solidify our role in improving the Saudi capital market efficiency, enhance its liquidity, and provide our clients with confidence in a new future. We look forward to executing the trades quickly and accurately to ensure that the company’s shares remain a highly sought-after investment opportunity for the investors locally and internationally."
SNB Capital is a leading regional financial institution with deep industry expertise across four business lines: Asset Management, Wealth Management, Securities, and Investment Banking. Headquartered in Saudi Arabia, SNB Capital is a market leader with SAR 251 billion of assets under management.
About Saudi Exchange -
The Saudi Exchange Company is the authorized entity in the Kingdom of Saudi Arabia to act as the Kingdom’s securities exchange (the Exchange), listing and trading in securities. The Saudi Exchange is one of the largest stock exchanges among the 67 members of the World Federation of Exchanges, the dominant market in the Gulf Cooperation Council (GCC) and the 3rd largest stock market amongst its emerging market peers. For more information, see: www.saudiexchange.sa
Saudi Exchange Media Contact
Ahmed Jebur
ahmed.jebur@fgsglobal.com
