Riyadh: On day two of the second annual Saudi Capital Market Forum in Riyadh, leading international experts noted the significant potential of Saudi Arabia’s IPO landscape in 2023.
Finlay Wright, Head of Equity Market Solutions, Middle East & Asia, Rothschild & Co, said: “We’re seeing lots of interest here after the Americana IPO. Strong macro conditions, confidence around structural changes, high quality IPOs and exposure of investors to new sectors will continue to drive growth.”
Alex Watkins, Co-Head of ECM EMEA, J.P. Morgan commented: “Saudi IPOs are the best performing cohort of IPOs globally, with a median aftermarket performance of 20%.”
“There is a bullishness here, seeing Vision 2030 objectives being realized,” added Zaid Ghoul, Head of Investment Banking, SNB Capital.
Martin Thorneycroft, Managing Director, Head of Cash Equity Capital Market, Morgan Stanley, noted the opportunities being driven by strong consumer confidence and a young population: “We are bringing to market more consumer-led stories that will make the market more attractive to international investors.”
These built on comments made yesterday by H.E. Mohammed El Kuwaiz, Chairman, Capital Market Authority, who noted that there are 23 companies on the runway for IPO in 2023, having been approved by the Capital Market Authority, with almost 80 files currently under review.
-Ends-
About Saudi Tadawul Group
The Saudi Tadawul Group, established in March 2021, is the parent company of Saudi Exchange, a dedicated stock exchange business, the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa) and Wamid – the innovation arm of the Group.
www.tadawulgroup.sa
For more information, please contact: SCMFPressOffice-ME@fgsglobal.com
