Saudi Arabia’s CMA launches consultation to open its Main Market to all foreign investors, ending QFI rules and swap agreements
Saudi stock market
Latest in Saudi stock market
Jeddah
Saudi rent freeze, $17.5bn Riyadh sales, foreign ownership rules, startups surge – 10 key KSA stories this week
Saudi Arabia freezes rents in Riyadh, property sales hit $17.5bn, foreign ownership rules may change, and startups surge – 10 key KSA stories this week
Capital Market Authority
Saudi Arabia may scrap foreign ownership limit rules; markets see 5-year surge
Markets soar in Saudi Arabia as reports suggest foreign ownership caps could be lifted
Donald Trump
Saudi stock market loses over half trillion riyals amid US-China trade war: Reports
Saudi Arabia’s benchmark Tadawul All Share Index (TASI) fell more than 700 points (6.1 per cent) to below 11,200 points
IPO
Saudi e-commerce firm Nice One raises $322mn in Main Market IPO
The IPO drew overwhelming interest from institutional investors, with orders surpassing $45 billion
debt market
Saudi Arabia’s CMA approves major overhaul of Sukuk, debt market rules to boost investment
The reforms aim to strengthen Saudi Arabia’s regulatory framework for debt instruments, creating a more dynamic and accessible market
Human Resources
Saudi HR solutions firm Tamkeen sets $13.3 as final offer price for IPO
The total size of the company IPO stood at $105.7 million
Aramco IPO
Aramco’s follow-up share sale could raise up to $13.1 billion
The company offering 1.545 billion shares; Price range is set between $7.12 and $7.73 per share; Offer opens on June 3
Financial markets
Saudi Arabia jumps 7 ranks in the competitive indicators for 2023 financial markets performance
According to the Administrative Development report, the country ranked first in the boards of directors at the level of the twenty countries
Abu Dhabi bourse
UAE and Saudi stock markets rise on spurt in oil prices
Improved investor sentiments also helped the two markets to make gains
Abu Dhabi Securities Exchange
UAE, Saudi stock markets open 2023 account in green
Abu Dhabi’s main stock index advanced 0.41 percent, while Saudi Stock Exchange’s main index ended trading higher on Monday, gaining 31.67 points
Capital Market Authority
Saudi Arabia announces new rules for foreign investors
The latest proposals are expected to have a positive impact on encouraging foreign investment in the Saudi capital market, besides increasing its attractiveness and efficiency and enhancing its regional and international competitiveness
Abu Dhabi Securities Exchange
UAE financial market ends in green, Saudi in red amid interest rate hike
Market analysts attributed the reason for the upbeat sentiments in UAE market to the robust Q3 corporate earnings, though there was caution persisting on interest rate hike decision
Crown Prince Mohammed bin Salman
Saudi Arabia plans IPO of $500 billion project Neom by 2024
The Saudi crown prince also unveiled funding details of Neom. First phase, which runs until 2030, will cost 1.2 trillion riyals, with about half of that covered by the Public Investment Fund
Exchange Traded Fund (ETF)
Saudi Arabia’s stock exchange Tadawul to launch first Islamic index
Its first Shariah compliant Index, TASI will track the performance of the Shariah compliant companies listed on the exchange under the supervision of an independent Shariah advisory committee
Abdullah Al Othaim Markets
Saudi mall operator Abdullah Al Othaim Markets cancels IPO plans
The company earlier said it was going to sell 30 percent of its shares
Alamar Foods
Middle East’s Domino’s Pizza operator Alamar Foods sets final offer price for IPO
Alamar Foods operates over 520 Domino’s stores across 11 countries in the region
