A government committee to stimulate the listing of companies on the Saudi stock market

Announcing the formation of a government committee in Saudi Arabia which includes The Capital Market Authority, the Ministry of Commerce and the Authority for Small and Medium-sized EnterprisesAnd the Saudi Tadawul Company to find incentives for companies to list on the Saudi market and contribute to the listing operations. For this, 12 primary and complementary stimuli were assigned.

Chief among these is the addition of additional weight to listed companies in the government procurement and projects system, local content and the increase in the lending ceiling at the Industrial and Real Estate Development Fund.

A memorandum of understanding was also signed between Saudi Tadawul and the Federation of Chambers of Commerce aimed at increasing integration in the exchange of information on the financial market, building the capacities of national companies to enter the financial market and enabling them to be listed.

The main Saudi stock index closed today, Tuesday, with a slight increase of 0.06%, gaining 6.43 points, and closing at the level of 11414.34 points, which is the highest level for the index since January 17th. 2008, with daily exchanges of 7.5 billion riyals.

The number of shares traded in today’s session reached over 190 million shares, shared by more than 300,000 transactions, in which the shares of 75 companies recorded an increase in value, while the shares of 104 companies closed.

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